Businessman Zedekiah Kiprop, popularly known as Buzeki, through his firm Buzeki Company, is in the middle of an intense battle to save commercial assets from an impending auction.
Synergy Industrial Credit, a hire purchase facility is keen on recovering Kshs 200 million from Buzeki through the sale of 199 lorry trucks.
The entity claims that it paid 200 trucks on behalf of Buzeki on a hire purchase basis. According to the enterprise’ managers, the businessman has failed to repay the debt as scheduled.
Buzeki has responded by suing Synergy after the company sent auctioneers to fetch the trucks. He is, however, accused of breaching their agreement and the company intends to actualize the auction.
Fortunately for Buzeki, the court granted temporary orders stopping the acquisition of the lorries by his creditors as reported by the Standard.
The former Uasin Gishu gubernatorial hopeful further claimed that an auction could frustrate the business and muzzle the hopes of more than a 1000 employees working for his company.
"The company reads mischief in the action by Synergy, which they allege could lead to the winding up of Buzeki Company through the back door,” he stated.
While acknowledging that his company had credit arrears due to Synergy Ltd, Buzeki and his co-director Diana Bundotich expressed shock at the intended actions.
He says that they evidenced their commitment to honour agreements by way of holding frequent meetings with their creditors.
Synergy Industrial Credit Ltd, however, insists that Buzeki’s company has consistently failed to keep their word on agreements formally signed between them.
“Despite our meeting after March 10 this year, where you promised you promised to make payment to settle the outstanding debt, no payment has been made to date,” stated the company’s representative in one of the emails lodged in court as evidence.
