mzeiya
Elder Lister
A thread on some high profile Kenyans who've had their properties auctioned...
1/
Former Nakumatt CEO Atul Shah has failed to stop Bank of Africa from auctioning his personal property worth Sh2bn over loans to Nakumatt. And he's not the only well-known personality that's faced auctioneers in the last few years.
Ex-Nakumatt CEO loses Sh2bn assets to Bank of AfricaBank first to seize Atul Shah’s property over the collapse of debt-ridden retailer.https://www.businessdailyafrica.com...2bn-assets/4003102-5610842-pqo22oz/index.html
2/
Just this week, a six-storey hotel in Machakos town belonging to former Cabinet minister Gideon Ndambuki was Monday put up for auction over a Sh80 million loan.
Ex-minister Gideon Ndambuki loses hotel to auctioneersThe hotel is located near Kenyatta Stadium and sits on 0.0389 hectares.https://www.businessdailyafrica.com...uctioneers/3946234-5610348-u2blw7z/index.html
3/
Then there are properties in Karen...
Powerful Moi-era politician and one-time Co-operative Bank chairman Hosea Kiplagat risks losing his expansive Karen residential home and associated company assets over a Sh378.61 million loan.
Hosea Kiplagat home to be auctioned over Sh378m debtEldoret Concrete Poles and Timber Treatment say that they borrowed the money to boost their working capital and purchase of tractors and machinery.https://www.businessdailyafrica.com...ver-Sh378m/3946234-5604686-15v0n9b/index.html
4/
Raphael Tuju recently put up Sh50mn to avoid being auctioned
Raphael Tuju has deposited Sh50 million in court as a condition for stopping a regional bank from auctioning his property in Karen, to recover a debt of Sh1.6 billion.
Tuju deposits Sh50m to stop property auctionIn a letter to Registrar of the Court of Appeal, Mr Tuju through his lawyer, said the amount had been deposited in a joint-interest earning account.https://www.businessdailyafrica.com...ty-auction/3946234-5594534-qovbaiz/index.html
5/
January 2020
Former Internal Security assistant minister Stephen Tarus faces a fight to block the auction of his Karen home in Nairobi over a Sh70 million NIC Bank loan.
Ex-minister’s home to be auctioned over Sh70mStephen Tarus' double-storey home sits on a 0.4708-hectare parcel of land in the upmarket Karen suburb.https://www.businessdailyafrica.com...Sh70m-loan/539546-5425684-10j6im0z/index.html
6/
In July 2020, retired African Inland Church (AIC) Bishop and close friend of former President Moi, Silas Misoi Yego lost bid to stop a commercial bank from auctioning his property in Kileleshwa, Nairobi for defaulting on a Sh140 million loan.
Bishop Yego loses bid to save prime city property auctionBishop Yego, through his trading company Siro Investments, borrowed the money from Trans National Bank in 2014 to construct 50 apartment units on the property.https://www.businessdailyafrica.com...ty-auction/3946234-5588948-2qdho8z/index.html
7/
Still in July 2020...
NCBA sought to block Landmark Port Conveyors Ltd from auctioning 53 trucks and trailers belonging to Buzeki over a Sh118 million loan.
NCBA reveals Sh2.7 billion Buzeki debt in auction suitThe debt disclosure came in an appeal filed by NCBA which is seeking to block Landmark Port Conveyors Ltd from auctioning 53 trucks and trailers.https://www.businessdailyafrica.com...ction-suit/3946234-5600084-d49sglz/index.html
8/
In January 2020, the family of former minister Njenga Karume Tuesday lost a court bid to stop a planned auction of Jacaranda Hotel over a Sh283 million bank loan.
Karumes fail to halt Jacaranda saleCourt orders the hotel to pay Sh4.5 million to GT Bank by Friday.https://www.businessdailyafrica.com...aranda-Hotel/539546-5409544-nykvjd/index.html
9/
Also in January 2020, Wahome Muotia's Nairobi Upper Hill Hotel was put up for auction to recover a debt owed to National Bank of Kenya
Nairobi UpperHill Hotel goes under the hammerNairobi UpperHill Hotel has been put up for auction to recover a debt owed to the National Bank of Kenya.https://www.businessdailyafrica.com...-on-auction/539546-5434276-15j25r6/index.html
10/
In July 2017, Cyrus Jirongo had his day with auctioneers...
Valley Auctioneers failed to get a buyer who could match the Sh70mnn reserve price for 102.7 acres.
He was in 2017 declared bankrupt after defaulting on a Sh700mn loan owed to eight companies.
Jirongo land auction fails as bids fall shortThe property, on the Kitale-Kapenguria Road, 5.5km from Maili Saba trading centre, is being sold to partly recover a Sh495 million loan.https://www.businessdailyafrica.com...all-short-/4003102-4002460-smrhjjz/index.html
11/
In August 2015, former Co-operatives Development Minister John Cheruiyot was jailed for six months for failing to pay a 20-year old Sh2.3 million debt.
Former Kanu minister jailed over Sh2m debtEx-Kanu Minister John Cheruiyot will spend six months behind bars for failing to pay a Sh565,000 debt that attracted Sh1,660,264 interest over time.https://www.businessdailyafrica.com...a-Sh2m-debt/539546-2845660-2tij2qz/index.html
12/
In December 2013, former spy chief Wilson Boinnett found himself facing the auctioneer's hammer.
The financier, says Cyn Energy, is in default to the tune of Sh74 million, but the dealer reckons that it owes the lender Sh20 million.
Former Moi spy chief fights auction of petroleum businessA former spy chief of retired President Daniel arap Moi, Wilson Boinett, is locked in a court battle with a financing firm, making him the latest aide of the previous Head of State to face suits overhttps://www.businessdailyafrica.com...eum-business/539550-2112782-oor1md/index.html
13/
And we shouldn't forget 'the main man' Jeff Koinange, whose two homes were put up on auction in April 2020 over a Sh200mn debt owed to NCBA
Jeff Koinange Sh200m city houses to be auctioned over NCBA debtThey will be sold when the auctioneer’s hammer falls on April 28.https://www.businessdailyafrica.com...-over-NCBA/3946234-5516208-sd7paxz/index.html
Update:
Auctioneers have re-advertised retired African Inland Church (AIC) Bishop Silas Yego’s prime Kileleshwa property over Sh143 million owed Transnational Bank following a failed bid by the clergyman to stop the sale.
Yego property auction fixed as court bid flopsPurple Royal Auctioneers said Wednesday the forced sale will take place on September 8.https://www.businessdailyafrica.com...bid-flops/3946234-5611404-15g71j5z/index.html
1/
Former Nakumatt CEO Atul Shah has failed to stop Bank of Africa from auctioning his personal property worth Sh2bn over loans to Nakumatt. And he's not the only well-known personality that's faced auctioneers in the last few years.
Ex-Nakumatt CEO loses Sh2bn assets to Bank of AfricaBank first to seize Atul Shah’s property over the collapse of debt-ridden retailer.https://www.businessdailyafrica.com...2bn-assets/4003102-5610842-pqo22oz/index.html
2/
Just this week, a six-storey hotel in Machakos town belonging to former Cabinet minister Gideon Ndambuki was Monday put up for auction over a Sh80 million loan.
Ex-minister Gideon Ndambuki loses hotel to auctioneersThe hotel is located near Kenyatta Stadium and sits on 0.0389 hectares.https://www.businessdailyafrica.com...uctioneers/3946234-5610348-u2blw7z/index.html
3/
Then there are properties in Karen...
Powerful Moi-era politician and one-time Co-operative Bank chairman Hosea Kiplagat risks losing his expansive Karen residential home and associated company assets over a Sh378.61 million loan.
Hosea Kiplagat home to be auctioned over Sh378m debtEldoret Concrete Poles and Timber Treatment say that they borrowed the money to boost their working capital and purchase of tractors and machinery.https://www.businessdailyafrica.com...ver-Sh378m/3946234-5604686-15v0n9b/index.html
4/
Raphael Tuju recently put up Sh50mn to avoid being auctioned
Raphael Tuju has deposited Sh50 million in court as a condition for stopping a regional bank from auctioning his property in Karen, to recover a debt of Sh1.6 billion.
Tuju deposits Sh50m to stop property auctionIn a letter to Registrar of the Court of Appeal, Mr Tuju through his lawyer, said the amount had been deposited in a joint-interest earning account.https://www.businessdailyafrica.com...ty-auction/3946234-5594534-qovbaiz/index.html
5/
January 2020
Former Internal Security assistant minister Stephen Tarus faces a fight to block the auction of his Karen home in Nairobi over a Sh70 million NIC Bank loan.
Ex-minister’s home to be auctioned over Sh70mStephen Tarus' double-storey home sits on a 0.4708-hectare parcel of land in the upmarket Karen suburb.https://www.businessdailyafrica.com...Sh70m-loan/539546-5425684-10j6im0z/index.html
6/
In July 2020, retired African Inland Church (AIC) Bishop and close friend of former President Moi, Silas Misoi Yego lost bid to stop a commercial bank from auctioning his property in Kileleshwa, Nairobi for defaulting on a Sh140 million loan.
Bishop Yego loses bid to save prime city property auctionBishop Yego, through his trading company Siro Investments, borrowed the money from Trans National Bank in 2014 to construct 50 apartment units on the property.https://www.businessdailyafrica.com...ty-auction/3946234-5588948-2qdho8z/index.html
7/
Still in July 2020...
NCBA sought to block Landmark Port Conveyors Ltd from auctioning 53 trucks and trailers belonging to Buzeki over a Sh118 million loan.
NCBA reveals Sh2.7 billion Buzeki debt in auction suitThe debt disclosure came in an appeal filed by NCBA which is seeking to block Landmark Port Conveyors Ltd from auctioning 53 trucks and trailers.https://www.businessdailyafrica.com...ction-suit/3946234-5600084-d49sglz/index.html
8/
In January 2020, the family of former minister Njenga Karume Tuesday lost a court bid to stop a planned auction of Jacaranda Hotel over a Sh283 million bank loan.
Karumes fail to halt Jacaranda saleCourt orders the hotel to pay Sh4.5 million to GT Bank by Friday.https://www.businessdailyafrica.com...aranda-Hotel/539546-5409544-nykvjd/index.html
9/
Also in January 2020, Wahome Muotia's Nairobi Upper Hill Hotel was put up for auction to recover a debt owed to National Bank of Kenya
Nairobi UpperHill Hotel goes under the hammerNairobi UpperHill Hotel has been put up for auction to recover a debt owed to the National Bank of Kenya.https://www.businessdailyafrica.com...-on-auction/539546-5434276-15j25r6/index.html
10/
In July 2017, Cyrus Jirongo had his day with auctioneers...
Valley Auctioneers failed to get a buyer who could match the Sh70mnn reserve price for 102.7 acres.
He was in 2017 declared bankrupt after defaulting on a Sh700mn loan owed to eight companies.
Jirongo land auction fails as bids fall shortThe property, on the Kitale-Kapenguria Road, 5.5km from Maili Saba trading centre, is being sold to partly recover a Sh495 million loan.https://www.businessdailyafrica.com...all-short-/4003102-4002460-smrhjjz/index.html
11/
In August 2015, former Co-operatives Development Minister John Cheruiyot was jailed for six months for failing to pay a 20-year old Sh2.3 million debt.
Former Kanu minister jailed over Sh2m debtEx-Kanu Minister John Cheruiyot will spend six months behind bars for failing to pay a Sh565,000 debt that attracted Sh1,660,264 interest over time.https://www.businessdailyafrica.com...a-Sh2m-debt/539546-2845660-2tij2qz/index.html
12/
In December 2013, former spy chief Wilson Boinnett found himself facing the auctioneer's hammer.
The financier, says Cyn Energy, is in default to the tune of Sh74 million, but the dealer reckons that it owes the lender Sh20 million.
Former Moi spy chief fights auction of petroleum businessA former spy chief of retired President Daniel arap Moi, Wilson Boinett, is locked in a court battle with a financing firm, making him the latest aide of the previous Head of State to face suits overhttps://www.businessdailyafrica.com...eum-business/539550-2112782-oor1md/index.html
13/
And we shouldn't forget 'the main man' Jeff Koinange, whose two homes were put up on auction in April 2020 over a Sh200mn debt owed to NCBA
Jeff Koinange Sh200m city houses to be auctioned over NCBA debtThey will be sold when the auctioneer’s hammer falls on April 28.https://www.businessdailyafrica.com...-over-NCBA/3946234-5516208-sd7paxz/index.html
Update:
Auctioneers have re-advertised retired African Inland Church (AIC) Bishop Silas Yego’s prime Kileleshwa property over Sh143 million owed Transnational Bank following a failed bid by the clergyman to stop the sale.
Yego property auction fixed as court bid flopsPurple Royal Auctioneers said Wednesday the forced sale will take place on September 8.https://www.businessdailyafrica.com...bid-flops/3946234-5611404-15g71j5z/index.html
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