BUZEKI SEEKS OUT-OF-COURT DEAL IN SH105 MILLION DEBT.

0
100

BY SAM ALFAN.

A fight between two law firms has derailed plans to settle a Sh105 million debt between politician Zedekiah Bundotich Kiprop, popularly known as Buzeki and a warehousing firm.

Documents filed in court showed that Buzeki and Landmark Conveyors had reached out-of-court settlement plans in September.

However, Gikandi & Company Advocates now wants to be allowed to complete the deal with Landmark, leaving out P.I Samba & Company Advocates, a firm which jointly represented Buzeki Enterprises ltd.

“That given the contents of the letter, the defendant is left with no option but to request this court to allow the firm of Gikandi & Company advocates to formally come on record and take over the case from P.I Samba & Company Advocates,” stated an affidavit of Diana Bundotich.

Gikandi Ngubuini has supported the application saying he will proceed with the deal and settle the dispute fully and amicably.

“In the circumstances I seek for permission to come on record in this matter and be allowed to fully represent the defendant’s best interest,” Ngubuini said.

He was handling the matter jointly with P.I Samba. Which the latter doesn’t want joint representation. Diana Bundotich.

In the dispute, Landmark had sought to auction some 53 trucks and trailers belonging to Buzeki over a debt of Sh105 million.

Justice Msagha Mbogholi had last year allowed Landmark to auction the vehicles to recover the money after Buzeki reneged on a mutual agreement recorded in court in November 2018 which required the company to settle its debt in monthly installments.

The debt stems from a deal in which Buzeki agreed to sell two pieces of prime land worth Sh340 million in Mombasa County to the warehousing firm in August 7, 2015

Landmark paid Buzeki Enterprises Sh105 million for the deal in which the transport firm was expected to discharge a mortgage accrued in one of the properties after receiving the deposit but failed to do so. Buzeki later asked Landmark to review the agreement, forcing the latter to demand a refund of its money.

Landmark moved to court and successfully managed to attach the 53 trucks and trailers in contention.

In the consent to be filed in court, Buzeki had agreed to pay a first instalment of Sh45 million. Subsequently, the transport firm would pay a monthly instalment of Sh2 million on the 16th of every month, until payment in full.

Buzeki was also required to withdraw an appeal, which is pending before the Court of Appeal. The parties had also indicated that failure to honour the deal as agreed would signal Landmark to auction the lorries.

SHARE
Previous articleREPRIEVE FOR CHEMICALS COMPANY IN LEGAL FEE DISPUTE.
Next articleUN AWARDS JUSTICE KOOME FOR DEFENDING CHILDREN RIGHTS.
Nairobi Times, Your Story, Our Story. www.nairobitimez.co.ke is a prime product of Sovereign Media Network, a company registered and incorporated in Kenya under the Companies Act of 2015. Nairobi Times owes its existence to apposite journalism of truth, accuracy, objectivity and balanced presentation of stories in a credible and honest way. Nairobi Times practices real journalism of the real story, told in a real way by a real journalist. contact us via nairobitimeznews@gmail.com ©NairobiTimez.co.ke.

LEAVE A REPLY