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Runda house owner gets order to recover Sh726m from HF
Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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http://www.businessdaily.../-/qkt6hfz/-/index.html
A Nairobi businesswoman has obtained court orders attaching mortgage lender Housing Finance’s property to recover a Sh722 million compensation that the High Court awarded her in 2009. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/2/2010 Posts: 845
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Wawawawawa. 26% interest? Thaai ngai thaai. Is this something HF have been disclosing in their annual reports? All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Did Equity cash out of HF? Yes. Then britam bought Equity's stake... This game of musical chairs is becoming excellent drama than I expected. Golden handcuffs saga continues... Sept 2014 is when the thunder struck! $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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This is truly shocking and a big blow to HFCK. that amount is equivalent to 3 quarters of profits. Britam and now HFCK. seem to have a lot of 'bad luck' befalling them. I'm left to wonder if we've seen everything The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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When is HF issuing a PR statement on this issue? This is material information that needs clarification. Ama CMA na NSE as usual are snoozing in the office. CBK anyone?  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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hisah wrote:When is HF issuing a PR statement on this issue? This is material information that needs clarification. Ama CMA na NSE as usual are snoozing in the office. CBK anyone? And funny enough the market feels nothing!!! I expected the stock to be battered today but it never happened! But as you are saying, they need to respond and respond swiftly!!! Customers need to be reassured. Investors need to be reassured. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Taking this with a pinch of salt. BD have a way of misreporting
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Rank: User Joined: 1/20/2014 Posts: 3,528
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mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Othelo wrote:mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Yes the figures are quite bizarre and that math doesn't add up. That's why I expected HF to respond if at all they have a functioning PR desk... Silence means?$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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hisah wrote:Othelo wrote:mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Yes the figures are quite bizarre and that math doesn't add up. That's why I expected HF to respond if at all they have a functioning PR desk... Silence means? The figures only make sense if the 20m initial award is assumed to have been the right value back in the year 2000 when it was auctioned and the subsequent court interest rate of 26% applied on it for 15years to date plus compounded incidental costs. Otherwise the reporter must have goofed somewhere. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 6/23/2009 Posts: 13,551 Location: nairobi
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lochaz-index wrote:hisah wrote:Othelo wrote:mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Yes the figures are quite bizarre and that math doesn't add up. That's why I expected HF to respond if at all they have a functioning PR desk... Silence means? The figures only make sense if the 20m initial award is assumed to have been the right value back in the year 2000 when it was auctioned and the subsequent court interest rate of 26% applied on it for 15years to date plus compounded incidental costs. Otherwise the reporter must have goofed somewhere. To determine the validity of a thread on wazua.. U must return to the source... This award is grossly inapplicable. Even if HF made a mistake at the start, how many lives would be affected if the award is implemented. Utilitarianism would have to be considered in application of the law
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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lochaz-index wrote:hisah wrote:Othelo wrote:mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Yes the figures are quite bizarre and that math doesn't add up. That's why I expected HF to respond if at all they have a functioning PR desk... Silence means? The figures only make sense if the 20m initial award is assumed to have been the right value back in the year 2000 when it was auctioned and the subsequent court interest rate of 26% applied on it for 15years to date plus compounded incidental costs. Otherwise the reporter must have goofed somewhere. True. If you calculate from 2000 you get six hundred and something million. Then you add auctioneer's charges and other damages. But I doubt that lady will ever get that 700 million!!! Having said that (and despite being a HF shareholder) I believe HF acted in total bad faith!!! You cannot sell a house in Runda because of 300k!! There are many other options. And that is even without considering they used a flawed process to dispose the house!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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On the other side, this illustrates how rich you can become if you made an investment with 26% plus annual returns!!! Try 30% uone real money in a couple of years!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 6/23/2009 Posts: 13,551 Location: nairobi
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MaichBlack wrote:On the other side, this illustrates how rich you can become if you made an investment with 26% plus annual returns!!! Try 30% uone real money in a couple of years!!! Compounded interest is a real money maker. Bill Graham swore unto it and passed the concept to Warren Buffet
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 5/31/2009 Posts: 226
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Love this Kenyan banks have always acted in bad faith to rip off clients with impunity. A friend of mine had a car loan his car was impounded for default. I was willing to buy the car for 700k but bank could not allow me to even start the engine confirm its condition despite it being sandwished btn several cars so i was unable to commit. They sold it "allegedly" for 350k Judiciary must drive the point home. Banks are not a law unto themselves how i wishbit was 1.5b
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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obiero wrote:lochaz-index wrote:hisah wrote:Othelo wrote:mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Yes the figures are quite bizarre and that math doesn't add up. That's why I expected HF to respond if at all they have a functioning PR desk... Silence means? The figures only make sense if the 20m initial award is assumed to have been the right value back in the year 2000 when it was auctioned and the subsequent court interest rate of 26% applied on it for 15years to date plus compounded incidental costs. Otherwise the reporter must have goofed somewhere. To determine the validity of a thread on wazua.. U must return to the source... This award is grossly inapplicable. Even if HF made a mistake at the start, how many lives would be affected if the award is implemented. Utilitarianism would have to be considered in application of the law the law is an ass 
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Rank: Member Joined: 3/15/2010 Posts: 391 Location: nairobie
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premio wrote:Love this Kenyan banks have always acted in bad faith to rip off clients with impunity. A friend of mine had a car loan his car was impounded for default. I was willing to buy the car for 700k but bank could not allow me to even start the engine confirm its condition despite it being sandwished btn several cars so i was unable to commit. They sold it "allegedly" for 350k Judiciary must drive the point home. Banks are not a law unto themselves how i wishbit was 1.5b An insider bought that car or made some money at the loss of some one
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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Del. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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Del. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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whiteowl wrote:obiero wrote:lochaz-index wrote:hisah wrote:Othelo wrote:mwekez@ji wrote:Taking this with a pinch of salt. BD have a way of misreporting Yes, those figures dont look real hata kama. Yes the figures are quite bizarre and that math doesn't add up. That's why I expected HF to respond if at all they have a functioning PR desk... Silence means? The figures only make sense if the 20m initial award is assumed to have been the right value back in the year 2000 when it was auctioned and the subsequent court interest rate of 26% applied on it for 15years to date plus compounded incidental costs. Otherwise the reporter must have goofed somewhere. To determine the validity of a thread on wazua.. U must return to the source... This award is grossly inapplicable. Even if HF made a mistake at the start, how many lives would be affected if the award is implemented. Utilitarianism would have to be considered in application of the law the law is an ass Let them pay.This thing of ignoring court orders must stop. Court interest has no fetters possunt quia posse videntur
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Runda house owner gets order to recover Sh726m from HF
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