News
Court Orders For The Auction Of Buzeki Enterprises Limited Company Assets
Self proclaimed self made billionaire Buzeki company assets have been listed for an auction to pay for the already defaulted debt.
Former vocal Uasin Gishu Gubernatorial aspirant Zedekiah Bundotich Kiprop popularly known as Buzeki and a controversial businessman will see his company assets auctioned to settle an already defaulted debt of Ksh 118M.
Judge Msagha Mbogholi liquidated Buzeki Enterprises Limited assets to Landmark Port Conveyors after the Buzeki owned company failed to settle its debt.
In a ruling dated June 13, 2019 Buzeki Enterprises Limited assets were listed for auction after failing to meet the set debt settlement limit of 3 million every month.
The High court ruling indicated that Buzeki Enterprises has initially agreed to pay the debt by monthly installments in a past court session but only managed to pay 3 months installments.
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This is not the first time Buzeki has been cought pants down by the law suits against his company.
in 2017, a law firm filed for a decree claim for the refund of Sh94.5 million, interest accruing at commercial bank rate from December 2016 until full payment is made, cost of the suit plus interest as court rates against Buzeki Enterprize limited.
Justice Mbogholi entered judgment against the controversial politician company on May 12, 2017 to foot for bill the law firm drew totaling to Sh 1,267,145.
The sum came as a result of instruction fee for the claim of Sh94.5 million and Sh1,595,000 calculated at 75 per cent, filing charges, list of documents and other case related claims
Sources speaking to this writer say that Buzeki’s company has been in corridors of the courts trying to save its assets that have now been set to be sold to pay off the multi-million-shilling debt.
Buzeki Enterprises Limited deals in haulage is with deep rooted political dealings and controversial tenders to ferry goods for international firms and politicians.
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