Feeds:
Posts
Comments

Archive for the ‘Uncategorized’ Category

Kenyan Providers

KEEF

The civil case was mentioned on 22nd January 2018 as indicated earlier.

The Judge gave an extension for the third respondent in the case to file their submissions.

The Parties(KEEF,Daniel Kimani ,Cyrus Komu on one side and MYC4 on the oneside) will appear again before the Judge on 13th  March  2018 highlighting of submissions.

The criminal case  in Kiambu High Court, Police Case file KIAMBU P/STN .PCR NO.275/2017 wherein Mr Damiel Kimani and Mr Simon Kamau has been charged , came  up for hearing  on 25th January 2018. One witness took to stand . The Court adjourned the case to 5th April 2018 .

MYC4 remains  optimistic that our legal team together with the state prosecutors are well prepared and that in the course of 2018 both cases will come to logical conclusion and justice served eventually.

More updates will be shared in our subsequent blog updates.

     Keef

Milango

MYC4’s  legal team will advise on the way forward in regards to the legal action against Milango  . Details will be shared in subsequent blog updates.

Milango

Yehu

Yehu  has to date continued to making monthly repayments in line with an out of court settlement agreement entered in June 2017.

Yehu logo

Jubilant Kenya Limited

Jubilant failed to honor its obligations despite many follow ups and an out of Court settlement agreement registered in the High Court .

The legal teams appeared before the court on 17th January 2018 as indicated earlier.

The Case was adjourned to 20th March 2018 when the parties will highlight their submission and the Court will thereafter give direction on the matter.

Further developments on the matter will be shared in our subsequent update.

Tanzania Providers

Mtaji

Our lawyers have since lodged a  civil case in the High Court of Tanzania  and  Mtaji Credit and Damasi Massawe has since been  served with sermons to appear in Court on 7th March 2018.

More details will be shared in our subsequent updates as the case proceeds in Court.

Mtaji

BELITA

MYC4 is still working hard to find a way of collecting the outstanding loans from BELITA. Any developments will be shared going forward .

Read Full Post »

Kenyan Providers

KEEF

The civil case was mentioned on 30th October 2017 as indicated earlier.

The Judge directed both parties to file written submission on the main application by MYC4 (Application One: MYC4 seeking the Court to adopt the Arbitration Award and issue a Judgement/Decree).

The Parties(KEEF,Daniel Kimani ,Cyrus Komu on one side and MYC4 on the otherside) will appear again before the Judge on 22nd January 2018 for further direction.

The criminal case  in Kiambu High Court, Police Case file KIAMBU P/STN .PCR NO.275/2017 wherein Mr Damiel Kimani and Mr Simon Kamau has been charged , came  up for mention on 11th September as indicated earlier.The Judge however adjourned the case to 25th January 2018.

MYC4 remains  optimistic that our legal team together with the state prosecutors are well prepared and that in the course of 2018 both cases will come to logical conclusion and justice served eventually.

 

More updates will be shared in our subsequent blog updates.

     Keef

Milango

MYC4’s  legal team is yet to finalize  the process of preparing a legal proceeding against Milango Financial Services and guarantors(Directors)  . Details will be shared in subsequent blog updates.

Milango

Yehu

Yehu  has to date continued to making monthly repayments in line with an out of court settlement agreement entered in June 2017.

Yehu logo

Jubilant Kenya Limited

Jubilant failed to honor its obligations despite many follow ups and an out of Court settlement agreement registered in the High Court .

MYC4’s  legal team  has since given  instructions to a  firm of auctioneers to execute recovery against Jubilant Plc Kenya pursuant to the Court Judgement issued by The High Court .

The Auctioneers has since made  recovery and proclamation of  assets(a vehicle and Office furniture) at  Jubilant Plc premises upon expiry of notice period.

The recovered good are held under safe custody awaiting disposal and proceeds therefrom will be paid back to investors.

MYC4 will pursue legal means to recover the remaining  outstanding as will be advised by our lawyers.

Further developments on the matter will be shared in our subsequent update.

 

Tanzania Providers

Mtaji

Our lawyers have since lodged a  civil case in the High Court of Tanzania  and anytime Mtaji Credit and Damasi Massawe will be served with sermons to appear in Court.

More details will be shared in our subsequent updates as the case proceeds in Court.

Mtaji

BELITA

MYC4 is still working hard to find a way of collecting the outstanding loans from BELITA. Any developments will be shared going forward .

 

DECEMBER 2017 HOLIDAYS

We take this opportunity to wish all of you a merry Christmas and Happy New Year 2018

Myc4 offices will remain closed during this period of festivities starting 15th December and shall reopen on 8th January 2018.

 

Read Full Post »

Kenyan Providers

KEEF

The civil case in the High court is coming up for a mention  on 30th October 2017. Having dispensed with the application on Security deposit,the Court will be giving directions on when to hear the other pending three applications.

Application One : MYC4 seeking the Court to adopt the Arbitration award and issue a judgement/Decree

Application Two:Preliminary Objection by KEEF and Daniel Kimani to put aside the Award

Application Three: Application by Cyrus Komu seeking asking the Court to dismiss application No.1 as invalid and illegal

The criminal case  in Kiambu High Court, Police Case file KIAMBU P/STN .PCR NO.275/2017 will be come up on 11th September 2017. The case was postponed to the 7th November 2017 when all parties will be required to be ready to call witnesses.

More updates will be shared in our subsequent blog updates.

     Keef

Milango

As updated on the previous issue MYC4’s  legal team is yet to finalize  the process of preparing a legal proceeding against Milango Financial Services and guarantors  . Details will be shared in subsequent blog updates.

Milango

Yehu

Yehu  has continued to making monthly repayments in line with an out of court settlement agreement entered in June 2017.

Yehu logo

Jubilant Kenya Limited

As updated during the last provider update Jubilant was unable to meet the obligation as per the out of Court Consent .Our legal team  has since given  instructions to a  firm of auctioneers to execute recovery against Jubilant Plc Kenya pursuant to the Court Judgement issued by The High Court .The Auctioneers has already issued notice for recovery and proclamation of  assets to Jubilant Plc. Any further developments on the matter will be shared in our subsequent update.

 

Tanzania Providers

Mtaji

As per our previous update our lawyers have finalized the legal process of lodging a civil case in the High Court of Tanzania  and anytime a suit will be filed against Mtaji .

More details will be shared in our subsequent updates as new  events unfolds.

Mtaji

BELITA

MYC4 is still working hard to find a way of collecting the outstanding loans from BELITA. Any developments will be shared going forward .

Read Full Post »

Kenyan Providers

KEEF

The case filed by MYC4  seeking to  register the arbitration award and obtain a Decree was coming up on  9th June 2017. The case was not listed and a new date will be availed once the Court Registry communicates to our legal team.

The criminal case  in Kiambu High Court, Police Case file KIAMBU P/STN .PCR NO.275/2017 was mentioned on 20th June 2017 and a hearing date given for 11th September 2017.

More updates will be shared in our subsequent blog updates.

     Keef

Milango

MYC4 legal team will soon finalize  the process of preparing a legal proceeding against Milango Financial Services and guarantors  . Details will be shared in subsequent blog updates.

Milango

Yehu

Yehu  continued to making monthly repayments consistently with the last repayment on 19th June 2017.

MYC4 and YEHU are on the final stages of preparing a Court Consent that will detail how the outstanding amount will be settled .

Yehu logo

Jubilant Kenya Limited

The first installment on our out of Court settlement is due on 30th  June 2017. Our legal team is in constant talks  with Jubilant lawyers to ensure the same is honored. Jubilant  is expected to  clear  its debt by December 2017.

 

Tanzania Providers

Mtaji

As indicated in our previous blog  MYC4 has started the process of lodging a court case against Mtaji and its CEO Mr Damasi Massawe and the process is in its final stages.

More details will be shared in our subsequent updates as new  events unfolds.

Mtaji

BELITA

MYC4 is still working hard to find a way of collecting the outstanding loans from BELITA. Any developments will be shared going forward .

Read Full Post »

Kenyan Providers

KEEF

A court session was held on 25th October,2016 and the Judge directed that the parties appear before him again on 14th March 2017.

The CID /BFID  investigation is still awaiting the DPP’s  recommendation and the  way forward of the findings presented to his office in December 2015. A new  update will be issued upon receipt of official communication from the DCI

     Keef

Milango

Myc4 upon receipt of legal opinion from its legal team has decided to take legal action against Milango Financial Services and guarantors directors. Details will be shared in subsequent blog updates.

Milango

Yehu

MYC4 received a repayment from YEHU in the month of  October 2016.

As informed earlier a new repayment agreement is about to be signed between YEHU’s lawyers and MYC4.

A team from MYC4 will be visiting YEHU this week to facilitate finalization of the agreement.

Myc4 is positive that YEHU is still committed in paying the outstanding  soon.

 

Yehu logo

Jubilant Kenya Limited

 

Myc4 is still in talks with Jubilant Kenya Ltd to ensure they revert back to the repayment agreement entered into with MYC4 in April 2016. We are working hard to ensure that payment from Jubilant will resume soon.Towards this end MYC4 team will also visit Jubilant to have discussion in a bid to kick start the repayments.

Tanzania Providers

Mtaji

Mtaji made their last repayment in the month of October 2016.

Myc4 and Mtaji are in  constant talk to ensure repayments continues as per the July 2016 repayment agreement.

We  are also  working hard to ensure that  repayments will stream in soon.

Mtaji

BELITA

MYC4 has not been able to settle a repayment agreement with BELITA .

Any new developments will be shared forward going.

Read Full Post »

Kenyan Providers

KEEF

 

The court case is still ongoing and the next session will be on 25th October 2016.

The CID /BFID  investigation is still awaiting the DPP’s  recommendation and the  way forward of the findings presented to his office in December 2015.

Myc4 will issue an  update upon receipt of official communication from the DCI

     Keef

Milango

Myc4  lawyers  issued legal demand notice to Milango and its guarantors  which  has since expired. The legal team is preparing for the next course of action which is taking legal action to Milango and its Guarantors  .More update to follow in our next update post.

Milango

Yehu

YEHU’s lawyers and MYC4 lawyers are in the final stages of competing a new repayment agreement as advised earlier.

Yehu logo

Jubilant Kenya Limited

Jubilant Kenya Limited has been experiencing cash flow constrains following delayed capital injection from an equity investor.

They are however  doing their best to keep in pace with the repayment agreement made in March 2016.

Myc4 has been in constant talk with Jubilant in a bid to encourage them to honor their part of the agreement.

We trust that payment from Jubilant will resume soon.

Tanzania Providers

Mtaji

Mtaji and MYC4 entered in a new repayment agreement in the month of July . Mtaji has already made the August installment and is expected to make the September installment anytime now.

Mtaji

BELITA

As reported earlier MYC4 is still pursuing BELITA with the help of  the debt collection agency as indicated in previous updates.

Any new developments will be shared forward going.

Read Full Post »

Kenyan Providers

KEEF

As indicated previously the matter to obtain a judgement on the award previously issued by the Arbitrator is still pending in the High court.

The case is coming for mention  on 5th September  2016 where all parties are expected to appear before the judge for directions.

The CID /BFID  investigation is still awaiting the DPP’s  recommendation and the  way forward of the findings presented to his office in December 2015.

Myc4 will issue an  update upon receipt of official communication from the DCI

     Keef

Milango

Myc4  lawyers  issued legal demand notice to Milango and its guarantors  which  has since expired. The legal team awaits response from Milango and will advise if there will be a need to go to court  for recovery of the outstanding debt depending on the outcome  .The next course of action will be advised in subsequent updates.

Milango

Yehu

Yehu has continued to pay to MYC4  on a monthly basis.

YEHU’s lawyers and MYC4 lawyers are in the final stages of competing a new repayment agreement as advised earlier. This will see YEHU pay a constant monthly repayment towards settling their obligation with MYC4 .

Yehu logo

Jubilant Kenya Limited

Jubilant is working hard to keep its repayment plan to date.Jubilant is expecting a capital injection from the new equity investor part of which will go in to accelerate repayments to MYC4.

Tanzania Providers

Mtaji

MYC4 team visited Mtaji in Tanzania with a view to coming up with a repayment agreement that is acceptable to both parties .

MYcC4 and Mtaji has since entered into a new repayment agreement that will see Mtaji pay a monthly installment toward settling the outstanding debt with MYC4.

Mtaji team remains optimistic and willing to settle MYC4’s obligation as business situation impoves .

Mtaji

BELITA

MYC4 is still pursuing BELITA with the help of  the debt collection agency as indicated in previous updates.

Any new developments will be shared forward going.

Read Full Post »

Older Posts »

%d bloggers like this: