Royal Media Services Chairman S.K Macharia lost control of a Sh1.2 billion estate after his 19-year-old grandson won the first round of an inheritance battle.
Citizen TV boss loses control of Sh1.2 billion estate, 19-year-old wins first round in Court
The properties include 9 cars, 4 motorcycles and 5 residential homes spread across the country.
The media mogul's rights to manage the estate of his late son, John Gichia, were withdrawn by High Court judge Stella Mutuku.
Macharia had been administering the Sh1.2 billion estate left by his son John Gichia who died in a car crash in 2018.
His 19-year-old grandson Adam Kamau Macharia sought the court’s intervention arguing that he is now an adult and entitled to a piece of his father’s wealth.
Adam was 16 years old when the tragic car crash that claimed his father's life happened.
“The circumstances dictate that this court relooks the issues of representation in this estate afresh and make appropriate orders after hearing the parties. It is also clear to me that as at the time the two grants were issued, the sole beneficiary was a minor,” Justice Mutuku ruled.
The case also reveals the extent of the business empire John had built, taking after his father S.K Macharia as a shrewd investor.
He left behind a fitting collection of 9 cars, 4 motorcycles and 5 residential homes spread across the country.
Some of the vehicles included two Range Rover cars, a Land Rover , Jaguar, Jeep, Porsche 911, BMW, Trailer and Land Rover Discovery.
The houses are located in the leafy suburbs of Loresho, Kyuna Cresent, Kibarage and Mugumo all in Nairobi and one in Nanyuki.
Adam listed some of the firms in which his father had shares as Directline Insurance, Serenity Media Productions Ltd, Big Five Conservancy, Bushfire Media Distributors, Toi Redevelopment and Harbour Capital Ltd.
The shares were held in the name of AKM Investments Limited which he said was an abbreviation for 'Adam Kamau Macharia'
Directline Insurance where John was a director had claimed the house in Loresho and eight of the cars were bought using company funds and wanted them repossessed.
In his defence, the media mogul accused his grandson of acting on incompetent advice.
“He is being used by my opponents in litigation (reference was made to other disputes pending in other courts). Adam is acting on mistaken belief that his late father, had proprietary interests in the assets of Directline Assurance Company Ltd in which his company AKM Investment Ltd was a shareholder,” argued Macharia.
In conclusion, Justice Mutuku revoked SK’s rights and directed the two to propose and administrator pending the hearing and determination of the case.
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