Billionaire Bundotich Buzeki Fights to Save His Property over Ksh105 Million Debt

  • By Michael Musyoka on Sunday, 15 April 2018 - 1:56pm
    Under Siege
    Billionaire Bundotich Buzeki Twitter
  • Billionaire Bundotich Buzeki who lost Governor Jackson Mandago in the Uasin Gishu Gubernatorial race is fighting to save his company's property from getting auctioned over a Ksh105 Million debt.

    The flamboyant politician who put up a spirited fight against Mandago in the 2017 polls using choppers and expensive vehicles for his campaigns is now in trouble over a land deal that went sour in 2016.

    According to the Standard, Landmark Port Conveyors moved to court against Buzeki Enterprises Ltd over a Ksh340 Million land transaction deal - a move that could see his company's movable assets auctioned.

    Court cases present that the directors of Landmark entered into a binding sale agreement in August 2015 with Buzeki's company for the sale of two properties in Mombasa County.

    "Billionaire

    The pieces of land in question are a) 1.16 hectares in Section VI Mainland North and b) 1.07 hectares in Section VI Changamwe Miritini.

    The company made a payment of Ksh Ksh105 million to Buzeki enterprises to which he was to discharge the mortgage accrued on one of the properties.

    That was not the case, however as Buzeki asked for a revision of the original agreement.

    At which point the applicants demanded for a refund of the deposit they had made.

    "We are also aware that we shall forfeit 10 percent of the total deposit paid and therefore our claim is for Ksh94,500,000 and interest at bank rate from December 8, 2016 till payment in full for both days inclusive,” Landmark Port Conveyors Director Njenga Peter Kamau stated in court documents.

    A back and forth ensued in courts, as Buzeki failed to refund the money.

    "Billionaire

    In June 2017, the High Court deputy registrar’s office issued an order commanding Moran Auctioneers to sell Buzeki’s company’s properties by auction in execution of the judgment.

    A move which Buzeki's advocate Pennynah Samba objected in court arguing that her client had not been served with any papers over the debt.

    On Tuesday, High court Judge Jaden Thuranira issued temporary orders preventing the auctioning of Buzeki's property until the matter is heard on May 7.

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