Kibaki’s brother accused of selling shares of disputed property
06 November 2013, 16:28
Nyeri - A Nyeri businessman Tuesday narrated to court how he bought shares of a building, currently in dispute, from retired President Mwai Kibaki’s brother, Samuel Githinji Kibaki.
Peter Nderitu Munuhe told Lands and Environment High Court Judge, Justice Anthony Ombwayo, that he purchased 1,051 shares from Githinji and thereby became a shareholder of Mathingira Properties Company.
He appeared as a witness in a civil case where Kimwatu Kanyungu and others have sued Mathingira Properties Company for denying them a share of the proceeds generated by a building located in Nyeri town.
Though he was scheduled to appear Monday, he took the stand to witness after the former President failed to turn up as expected.
The building was co-owned by Mwai Kibaki, Githinji Kibaki, Kimwatu Kanyungu, Kiiru Gachinga, Gadson Gitonga and Kibera Gatu who are the plaintiffs in the suit, represented by lawyer Gibson Kamau Kuria.
Munuhe said he was informed about Githinji’s interest to sell his shares by Kinyua Gatwiga who is among the defendants.
He said they consulted a lawyer and entered into an agreement on September 9th 1991, for the transactions, and was issued with a certificate.
“I paid him the money, transferred the shares and issued him with a deed transfer certificate,” he told the court.
The certificate was signed by Kimwatu Kanyungu, the company’s chairman by then.
He was issued with another certificate on October 10th 2003, after he purchased extra 7,501 shares from another shareholder.
The businessman from Tetu constituency said Mathingira Company owners were also the agents of the building and used to collect rents.
To further illustrate that he is a shareholder in the company, Munuhe said he was attending Annual General Meetings and produced copies of minutes taken then, adding that he was receiving dividends by the end of every year.
He however told the court that the retired President did not attend meetings but sent apologies.
Lawyer Kamua Kuria had told the court that his clients had not been benefiting from rent collected since 2007 when the tussle began and efforts of uniting the shareholders had hit a snag.
The defendants are represented by lawyer Lucy Mwai in the matter.
The case continues.
Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.