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Posts Tagged ‘jubilant plc’

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 .

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Kenyan Providers

KEEF

The case filed by MYC4  seeking to  register the arbitration award and obtain a Decree came for a mention on 13th March 2017. The case will be heard again on 9th June 2017.

The Director of Public Prosecution(DPP)  has since finalized review of  the criminal investigation file forwarded by  the Director of Criminal Investigation(DCI) and issued recommendations for criminal charges to be preferred against Daniel Kariuki Kimani the CEO of KEEF (see photo here  Daniel Kimani portrait (1) )and Simon Kamau the Chairman of KEEF.

The file has since been forwarded to the Banking Fraud Investigation Department(BFID) for action and  both  Mr Daniel Kimani and Mr Simon Kamau have been arraigned in the High court in Kiambu on 2oth March 2017 and were released on a Bond. The cases is in Kiambu High Court, Court number 3,Case file KIAMBU P/STN .PCR NO.275/2017.The case will be mentioned on 30th June 2017.

More updates will be shared in our subsequent blog updates.

     Keef

Milango

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

Milango

Yehu

Yehu  has been making monthly repayments consistently with the last repayment on 15th March 2017 and  MYC4 still  expects they will continue repayment through the year 2017 until its debt is cleared.

Further MYC4 and YEHU’s legal team will soon be  finalizing  and executing  final repayment agreement soon

Yehu logo

Jubilant Kenya Limited

Myc4 has pursued   legal intervention against  Jubilant Kenya to find a lasting solution to repaying its outstanding debt and this has borne fruit. MYC4 and Jubilant have since entered into a repayment agreement that has been registered with the High Court of Kenya . Through this agreement Jubilant will soon restart repayments and is expected to  clear  its debt by December 2017.

Tanzania Providers

Mtaji

Myc4 has since appointed a lawyer to take  legal debt recovery procedure against Mtaji  since they  made their last repayment in the month of October 2016 and numerous follow ups for repayment has not yielded positive results.

The lawyers have since issued a legal demand notice and the notice period has since expired.

MYC4 has started the process of lodgings a court case against Mtaji and its CEO Mr Damasi Massawe.

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 .

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Kenyan Providers

KEEF

The case filed by MYC4  seeking to  register the arbitration award and obtain a Decree was adjourned and the parties thereto ordered to  appear before the Judge on the 14th March 2017 .

In regards to the investigation by the Director of Criminal Investigation(DCI)  MYC4 also expects that the Director of Public Prosecution(DPP) has had adequate time to review the investigation file  earlier forwarded to him and any time now expect an  official communication on the decision the DCI should take. A more  updates  will be issued upon receipt of the communication from the DCI’s office.

     Keef

Milango

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

Milango

Yehu

Yehu  made its last  repayments in the month of  December 2016 and MYC4  expects they will continue repayment through the year 2017 until its debt is cleared.

MYC4 and YEHU’s legal team will soon finalize and execute a final repayment agreement in the coming weeks.

Yehu logo

Jubilant Kenya Limited

Myc4 is  has continued intervention upon Jubilant Kenya to resume repayments.  A visit in the same spirit was made in the Month of November 2016 but todate Jubilant has not lived up to the repayment agreement of April 2016.

Due to Jubilant’s inability to resume repayment nor give an acceptable guarantee , MYC4 has resulted in taking legal action against Jubilant .

MYC4 will also communicate Jubilant’s default status to the larger general public in addition to forwarding the negative information to the Credit Reference Bureaus.

MYC4’s legal team will in addition to the above measures  institute a legal proceeding  to recover the outstanding debt.More details will be shared in subsequent Blog updates. .

Tanzania Providers

Mtaji

As communicated in our earlier updates ,Mtaji made their last repayment in the month of October 2016.

Myc4 has considered taking legal debt recovery procedure against Mtaji in a bid to put more  pressure and ensure they clear the outstanding.

MYC’s legal team will seek to reach out directly to the other Board Members .Details of this will be shared in our subsequent updates.

Mtaji

BELITA

BELITA has not been able to settle a repayment agreement with MYC4 .However , MYC4 is working had to find a way of collecting the outstanding loans from BELITA.Any progress will be shared forward going.

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