Retired President Mwai Kibaki has moved to Court of Appeal protesting over a ruling by the High Court allowing ‘strangers’ to manage and control a multimillion property he says he co-owns with other seven directors since 1970.
Through , the retired president argued that the directors managing the suit property, Mathingira wholesalers’ Company Ltd. in Nyeri town, were imposed by the Land and Environment court.
He told the Court of Appeal sitting in Nyeri that he and seven others are the registered and legitimate proprietors of the suit property, as he called for the three shareholders claiming ownership to be declared non-members.
Kuria told Appellate Justices, Agnes Murgor, Fatuma Sichale and Sankale Ole Kantai that respondents, Peter Munuhe, Sammy Kiiru and James Kanyi who are laying stake in the property were court imposed trustees.
In her judgment on July, 12, 2016, Land and Environment Judge, Justice Lucy Waithaka, declared both the Kibaki led team and the incorporated respondents, as the legitimate shareholders and directors of the property.
Kuria argued that the respondents had bought shares in the company in total disregard of company’s memorandum and articles of association.
He said through the illegal purchase of shares, the respondents could in no way lay claim to the property, adding the move was tantamount to a coup d’etat against lawful proprietors.
In response, the embattled shareholder through lawyer, Lucy Mwai, denied they were intruders or strangers to the suit property as claimed by Kibaki.
She argued that upon purchase of shares, the respondents became owners of the company, adding that the sellers ceased to be owners since they stopped attending meetings and or showing any interest in the affairs of the company.
The property in dispute was purchased in 1976 by nine members among them, the former president and incorporated as a company in 1983. Kibaki, despite being a shareholder played no managerial role in the company.
The court is expected to deliver judgment on March 21.
Source: Kenya News Agency