Win for Kibaki after he regains control of multi-million company

dennis kibet

March 21, 2018 2:17 PM

The win comes after a bitter court battle over ownership of the multi-million company.

Former President Mwai Kibaki has been handed a major win after him and seven other directors regained control of Mathingira Wholesalers, a multi-million-shilling company they started in 1970s following a bitter court case at the Court of Appeal.

Last month, Kibaki had faulted the Lands court for allowing ‘strangers’ to control and manage a multi-million property which he claims to have owned with his other co-directors.

Kibaki had termed the set of directors controlling the property as ‘court imposed trusts’.

“It is difficult to understand what the Lands court had in mind while giving them rights to manage and control the property in total disregard of the law,” Kibaki had stated through his lawyer senior counsel Kamau Kuria.

Appeal

Kibaki had filed an appeal seeking control of the company saying he wanted the firm reverted to him and his co-directors.

The Landas and Environment Court on July 12, 2016 through Justice Lucy Waithaka directed that two sets of directors continue managing the firm jointly.

Kibaki had wanted the court to dismiss the directive that the company elect a new board of officials to run its affairs and access its bank accounts.

The former President also wanted the directors who are currently running the firm to be removed and the court declare him and his co-directors as the rightful owners of the disputed property.

dennis kibet