– Court ordered Landmark Port Conveyors to sell assets belonging to Buzeki Enterprises to recover its debt
– The complainant will collect monthly installment of KSh 3 million from defendant until the multi-million debt is settled
– The two companies have been embroiled in court battle since 2015 following a land transaction deal that allegedly ended badly
A high flying politician and businessman Zedekiah Bundotich Kiprop also known as Buzeki is a man in trouble after court ordered that one of his companies be sold to recover debt of KSh 118 million he had failed to pay.
The amount was owed to Landmark Port Conveyors which moved to court after Buzeki Enterprises defaulted on settling the multi-million debt.
READ ALSO: Ongoing demolitions are bad for the country’s image – Buzeki declares in front of DP Ruto
READ ALSO: Bintiye Mike Sonko ajivunia maisha ya starehe, awaonyesha wafuasi kitita kikubwa cha pesa
In a court ruling delivered on June 13, 2019, Justice Mbogholi Msagha gave Landmark Port Conveyors a go ahead to sell assets belonging to Buzeki Enterprises to recover the debt.
According to the ruling, Landmark Port Conveyors will collect monthly installment of KSh 3 million from the defendant, Buzeki Enterprises, until the KSh 118 million is cleared.
READ ALSO: Eldoret tycoon Buzeki asks Kenyans to vote out corruption or remain poor forever
Court heard Buzeki Enterprises had agreed to pay the complainant’s debt by monthly installment but only a fraction of the debt had been paid as of June 2019.
Buzeki Enterprises has been fighting to save its assets from the auctioneers in a protracted legal battle that goes about five years back.
READ ALSO: Eldoret tycoon and Ruto ally, Buzeki, backs Rift Valley maize farmers’ demand for better prices
Trouble reportedly started in 2015 after a KSh 340 million land transaction deal between the transport company Buzeki Enterprises and Landmark Port Conveyors allegedly went sour.
The complainant moved to court to have the defendant’s properties attached by Moran Auctioneers Company over outstanding debts.
Buzeki Enterprises managed to get temporary orders setting aside warrants and proclamation of attachment by the auctioneers.
Landmark Port Conveyors, however, had the last laugh after the defendant still failed to meet his debt obligations according to the court ruling.
Do you have a life-changing story you would like us to publish? Please reach us through [email protected] or WhatsApp: 0732482690 and Telegram: Tuko news.
The Kenyan Lady Who Married Herself – On Tuko TV