Business
Grain Bulk Handlers Unable To Unable To Explain How Client’s Wheat Was Destroyed In Multibillion Suit
The hearing of the multi-billion grain tussle between Atta Kenya Ltd and Grain Bulk handlers resumed on Wednesday this week with two witnesses being put to task to explain how 29,500 metric tonnes of wheat was disposed.
In the case, Atta Kenya has sued Grain BulkAtta Kenya has sued Grain Bulk and others for illegally selling their wheat.
Appearing before High Court Judge Florence Macharia, two witnesses from the sued companies were put to task to explain how the auction price was arrived at and who authorized the sale of the milling wheat.
Atta limited lawyer Mila Bwire, wanted to know what exactly transpired during the receivership of the wheat consignment to its sale.
In the case, Atta Kenya wants the court to declare the sale of the wheat illegal and surcharge Grain Bulk Handlers Limited, Commissioner – Customs and Border Control, Beyond Auctioneers, Grain Industries Limited and Oloo and Chatur Advocates.
Atta Kenya claims it entered into an agreement with Louis Dreyfus company limited for the purchase of 38,500 metric tons of milling wheat.
29,500 metric tons was to be delivered to Atta Kenya limited, where the payment for the shipment was done in June 2014 to LDCL totaling 7.565 million dollars.
However, they fell behind in paying the required customs duty and storage fees owed to the Commissioner – Customs and Border Control and the second defendant Grain Bulk handlers.
According to court documents, while the matter was under review by all the parties Atta Kenya limited received a letter that, the consignment had been sold by Beyond Auctioneers to Grain Industries ltd at a total cost of Sh 217.48 million way below the market value of Sh 730.3 million
The case will be mentioned on 14th March 2024.
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