Equity Bank Group CEO James Mwangi has suffered yet another blow in his effort to stay the execution of a High Court judgment that ruled against him in a high-stakes Sh1 billion land dispute.
He had tried to oppose the order that granted Mount Pleasant LTD the possession of that suit property on January 7/2026.
“The above court order has been executed today under supervision of the OCS Gigiri and now the plaintiff Mount Pleasant Limited has now gained possession of the property, “ruled Judge Jennifer Mutuku.
Dissatisfied with this order, Mwangi raised an opposition at the court of appeal seeking to stay that order but appellate court maintained the status Quo.
Instead of halting the judgment, the appellate court ordered Mwangi to deposit Sh10 million as security and directed that the status quo over the disputed property be maintained pending the hearing and determination of his appeal.
Blow to Equity BANK CEO James Mwangi as court of Appeal declines to Stay High Court Judgment that ruled against him in Sh 1.Billion Muthaiga last case.
At the same time, The Court of Appeal has ordered Mwangi to deposit Sh10 million as security in a land dispute pending the hearing of his appeal.
In a decision delivered in Nairobi on February 4, 2026, a bench comprising Court of Appeal President Daniel Musinga and judges Patrick Kiage and Ole Muchelule recorded a consent between Mwangi, his wife Jane Wangui Mwangi, and Mount Pleasant Limited, effectively freezing any dealings with the contested property.
The judges directed that the status quo be maintained until the appeal is heard and determined, bringing to a halt the execution of a judgment issued by the Environment and Land Court (ELC) in October last year. The appeal arises from a decision by Justice Obaga Angote delivered on October 23, 2025, in ELC Case No. E038 of 2020, which ruled on the ownership and registration of the disputed land.
As part of the consent, the court ordered Mwangi to deposit Sh10 million in an interest-earning joint account held by lawyers for the appellants and Mount Pleasant Limited within 60 days. The court said the security was necessary to cushion the respondent should the appeal fail.
The judges also directed that the appeal be fast-tracked, with parties ordered to attend a case management conference within 30 days and file their written submissions and authorities ahead of the hearing.
The ruling is a blow to Mwangi, who had moved to the appellate court seeking to block enforcement of the ELC judgment, which exposed him to execution proceedings over the property. While Equity Bank is not a party to the case, the dispute has attracted attention due to Mwangi’s stature as the long-serving head of one of Kenya’s largest banking groups.
Mount Pleasant Limited is battling the Mwangi family over ownership of the land, with the Chief Land Registrar and the National Land Commission also joined in the proceedings over alleged irregularities in the registration process.
The Court of Appeal will now be called upon to determine whether the ELC erred in its findings on title and whether the registration of the property complied with land laws.Until then, Mwangi must comply with the Sh10 million deposit and refrain from any dealings with the property as the legal battle moves to the next stage.
