- The Standard
A Jubilee legislator has given up his house for auction as reported by Daily Nation on Friday, February 21.
Nakuru West Member of Parliament, Samuel Arama withdrew his petition against Family Bank to stop the sale of the house over Ksh 9 million mortgage arrears.
The lawmaker through his lawyer withdrew the appeal challenging Justice Dalmas Ohungo had delivered in 2017, conceding that the case had been overtaken by events.Nakuru Town West Member of Parliament Samwel Arama addresses members of the public on July 26, 2018.
The publication reported that Arama in relation to folding on the petition sought to avoid covering the cost of the application. Family Bank through its representation asked the court it be presented with the cost of the case.
Arama had moved to court in 2017 to prevent the lenders from auctioning the piece of land registered under his wife's name Florence Mandere Masita.
The legislator informed the court that he had failed to service the loan he took out from the bank, stating that a startup he put the funds into had collapsed.
Arama argued that he had made the principal payment as advanced together with interest. He further faulted the lender for failing to serve his wife with an auction notice, as the land is registered in her name.
According to the publication, Family Bank refuted his argument, terming his petition frivolous, mischievous and lacking in merit.
The lender hired Jogedah auctioneers to sell the land for an intended Ksh 9,150,000.
Arama joins the list of legislators and prominent people that have or are on the brink of losing property and businesses to auctions over mounting debts.Nakuru Town West Member of Parliament Samwel Arama addresses the media at Kaptembwa Market after issuing bursary cheques to bright needy students in his constituency.
Jubilee Party Secretary-General Raphael Tuju on February 12 lost a bid to stop the recovery of a Ksh1.5 billion debt he owes the East African Development Bank (EADB).
Tuju had moved to the High Court seeking to block the auction of properties which he used to access a multi-million dollar loan for the construction of luxury apartments in Nairobi's leafy Karen suburb.
EADB had sought to enforce a ruling by a London court that found the Cabinet Secretary to have defaulted on the loan, including principal and interest.
The loan was expected to facilitate construction of twelve two-storey bungalows on a forested 20-acre piece of land known as Entim Sidai.
It was also to see a 94-year-old bungalow owned by Scottish missionary Albert Patterson, currently operating as an upmarket restaurant, acquired. Construction on the Ksh1.2 billion project, however, fell behind schedule.
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