EX-VP AWORI SANCTIONED SH10M KAREN LAND LOAN.

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miller
Lawyer Cecil Miller for Muchanga Investments during the hearing of the application seeking orders to declare Muchanga Investments Horatius Da Gama Rose as the right ownership of the 134.4acres of land in Karen at Milimani law courts on April 22 2015.

BY SAM ALFAN.
A former vice president moody Awori guaranteed a Sh10.5million loan to a director of Muchanga Investments Horatius Da Gama Rose after the company acquired the Sh8billion property in Karen Nairobi County, heard judge on Wednesday.

Lady Justice Lucy Nyambura Gacheru heard that Mr Awori who was a director of Muchanga Investments which is battling with other companies and individuals over the ownership of the 134.4acres of land
in Karen witnessed and signed for the loan application to Barclays Bank of Kenya Limited by Mr Da Gama Rose.

“There has been a relation between the bank and Muchanga Investments over the Karen land,” lawyer Cecil Miller told Justice Gacheru.

Lawyer Miller said the band had been appointed by the deceased owner of the land Arnold Brandley as the sole administrator of his property and had the singular mandate to sell the land.

The bank had exercise of its mandate over the land sold it to Muchanga Investments in 1983 and “exactly at 3.30pm on August 30 1983 the title of the property was used to secure a Sh10.5million loan to Mr Da Gama Rose.”

The lawyer said the loan which had been secured with Mr Awori being a guarantor was paid and the title deed released by the bank to Muchanga Investments Ltd.

He said the title was released to Da Gama Rose through the law firm of Sharpley Barret in 1989.

“All these entries were reflected in the records at the ministry of lands,” the judge heard.

Lawyer Miller urged the judge to confirm the injunction barring third parties from encroaching into the land legally sold to Muchanga Investments for Sh1,250,000 in 1983.

The lawyer said it is unbelievable that the bank could not have advanced the loan to Muchanga if the land had been registered in the name of a businessman John Mugo Kamau who alleges that he bought the land in 1978.

“There has been a crystal clear relation between the bank and the Muchanga over the ownership of the land between 1983 and 1989.

Lawyer Miller said BBK through its legal officer Waweru Mathenge crystallized the vesting of the land to Muchanga by explaining that they will drawn by the initial owner of the land Arnold Brandley only
identified the bank as the executor of his will in relation to the
property.

He asked the court to reject statements by the ministry of lands that it had no proper documents over the land yet it had released the title to the bank when it was used to secure a loan to Da Gama Rose.

He said if the property is not vested to Muchanga Investments then it suffers irreparable loss and no amount of damages can be paid to compensate it.

“None of the nine defendants herein can pay Muchaanga INvestiments over Sh7billion which is the current value of the 134.4 acres,” Mr Miller submitted.

He impressed upon the judge to rejhect the sub-division maps presented to her by the other claimants of the suit property saying “they relied on a fraudulent title.”

Lawyer Miller said in 1985 Muchanga Investments re-submitted for cancellations all the proposed submissions it had presented to the ministry of lands and urged that the title remain uninterested with.

Jina Enterprises Limited which has been named as a defendant said it had relinquished its claim over the suit land and “that orders which
may be issued against it are inconsequential.”

A company associated with a former NSSF managing trustee- Josephat Koinzollo questioned the manner in which Muchanga Invsetments bought the land from BBK saying there are no proper records filed in court over the sale agreement.

Lawyer Stephen Gikera told the judge that the will of Mr Brandley only explained the bequeathing of 4 acres of his land to his daughter.

“The will remained silent about the rest of the land,” Mr Gikera told the judge.

He said documents as to how the land changed hands from Mr Brandley, the Bank and Mr Muchanga have not been tendered in court. Hearing continues.

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One thought on “EX-VP AWORI SANCTIONED SH10M KAREN LAND LOAN.

    smartnewskenya responded:
    April 22, 2015 at 3:14 pm

    Reblogged this on Smart Sam News and commented:

    A former vice president moody Awori guaranteed a Sh10.5million loan to a director of Muchanga Investments Horatius Da Gama Rose after the company acquired the Sh8billion property in Karen Nairobi County, heard judge on Wednesday.

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