Saturday, July 2, 2022

Githu Muigai demands Sh. 100mn refund from bank over 14 auctioned mansions

Former attorney general Professor Githu Muigai is seeking a refund of up to Sh. 100.5 million from Housing Finance over houses he bought on auction.

Professor Muigai has sued the lender over what he terms as breach of agreement over the properties he acquired in the year 2020 through an auction.

In in court papers, Muigai says that he conducted 16 bids for the apartments through a proxy named Koome Kiragu. He was the highest bidder for the houses located along Ngong Road, in Nairobi.

He has sued through through his trading company Fairlake Estate. He argues that despite winning and paying for the houses, he was never documents for ownership of the homes.

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Muigai told the court that the bank breached the sale contract by failing to furnish him with the transaction’s Completion Notice within 90 days, as provided for in the agreement, to enable him take control of the proper

“Due to the bank’s inability to deliver clean title for the properties and possession to Fairlake Estates Ltd, the auction sales stand rescinded by the conduct of the bank,” the former AG told the court.

However, the bank has disputed this and told the court not to order a reversal of the auction as the former AG was offered all the documentation he needed. These documents include the original title deed and leases. The bank says that Muigai got the documents on September 29, 2020.

“The bank can not be blamed if the plaintiff has not taken possession of the apartments. The plaintiff understands the process of taking over possession of the units it purchased and should use the legal options available to it to take the apartments,” the bank, through Walker Kontos Advocates, told Justice Wilfrida Okwany.

The housing units are at located at Zahara Gardens, Ngong Road. They were auctioned in May 2020 after the previous owner defaulted on a loan.

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