NAIROBI (Reuters) - Kenya's Stanbic bank cleared two legal hurdles for its merger with CFC bank on Tuesday after paying security deposits for two ongoing cases against it, lawyers said. Kenya's High Court ordered Stanbic Kenya, owned by South Africa's Standard Bank, to deposit 200 million Kenya shillings as security until the resolution of a lawsuit by former customer Industrial Plant East Africa Ltd. The bank also had to deposit another 532 million shillings for a separate suit filed by 15 former Stanbic employees. "We've complied with all the laws as ordered by the courts," Githu Muigai, a lawyer for Stanbic, told Reuters by telephone. Stanbic has already received all the regulatory approvals to buy a 60 percent stake in CFC bank, whose assets were valued at 43.3 billion shillings as of the end of December 2007. Lawyer Matthew Oseko, who represents both the workers and the plant, confirmed that the money had been deposited at the court. "We have no problem now with Stanbic, because they have deposited their money as a security," Oseko said. The planned company, to be renamed CFC/Stanbic Holdings, would be Kenya's fourth largest bank. | 
