Corporate News
Sue Muraya, co-owner of Suraya. Photo/FILE
Nation Media Group
By GALGALLO FAYO
Posted Monday, June 23 2014 at 21:55
Posted Monday, June 23 2014 at 21:55
In Summary
The directors of real estate firm Suraya Properties
are seeking civil jail term for Kiambu land-owner Nancy Wanja Gatabaki
for her alleged failure to comply with court orders.
Peter and Sue Muraya, the two directors of Suraya
Properties, allege that Mrs Gatabaki has refused to co-operate with them
making it difficult to transfer houses to her name as agreed in a
consent filed in court in 2011.
Suraya Properties are the developers of multi-billion- shilling residential estate Fourways Junction.
The directors filed the application on May 23, a
day after Mrs Gatabaki had filed a separate application seeking to cite
two directors—Peter and Sue Muraya— for contempt of court for allegedly
failing to transfer to her property worth Sh323 million in 24 months as
agreed in an out-of-court settlement reached in September 2011.
Mrs Gatabaki had moved to the High Court arguing
that while Fourways Junction estate was to be a joint venture between
Suraya Property and the Gatabaki family, she had been sidelined and her
shareholding watered down to her disadvantage. But she withdrew the case
after the Suraya directors agreed to pay her Sh725 million in an
out-of-court settlement that was adopted as court order.
“That Nancy Wanja Gatabaki, the
plaintiff/respondent herein, be held to be in contempt for disobeying
the court order given by this honourable court on September 6, 2011 and
be imprisoned to civil jail for six months,” reads one of the orders
sought by the directors.
Peter Muraya in an affidavit, says they have
complied with all court orders clarifying that Sh400 million has been
paid to Mrs Gatabaki and a total of 12 villas and 30 apartments
completed ready for transfer.
He says the certificate of occupation for the
houses and apartments were given to Mrs Gatabaki’s lawyer in January but
formal transfer has been allegedly delayed by her reluctance to
co-operate with their lawyer. He claims that the only outstanding issue
in the consent is the matter of the shares she owns in Sagana
developers, which she was to transfer to her husband Dr Gatabaki.
To comply with the order, a company called Muga
Holdings Limited was to be incorporated, which would own 9.2 acres as
per the consent and in this said company she was to share a 33 per cent
stake with her husband.
“To date the plaintiff has refused to execute the
company memorandums despite being ordered to do so by the court,” says
Mr Muraya, adding that there are several other consents signed after the
one filed in court in September 2011, which Mrs Gatabaki had allegedly
ignored.
The dispute hit the headlines in 2011 after Mrs
Gatabaki moved to court and threatened to put to a stop construction of
the Sh30 billion Fourways Junction.
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