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Ksh11Billion awarded to Orbit Chemicals.
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propertyzote
#1 Posted : Tuesday, October 16, 2012 8:46:17 AM
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Location: Nairobi
This will be a good week for Orbit chemicals after being awarded a total of 11 billion. This award will be one of the largest in Kenya’s history. Initially Orbit Chemicals had lodged an Sh18 billion claim arising from the profits it allegedly lost for failure to utilise the 92.2 acres of land in Embakasi. This may only strain the taxman as as certain this amount cannot be paid in lumpsum. As much as this is a good ruling, in comparison to the Syokimau fiasco the courts are still a flaw. You really need to have the patience,guts and money to win this cases.

http://www.businessdaily...0/-/keu10az/-/index.html
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mkeiyd
#2 Posted : Tuesday, October 16, 2012 8:58:48 AM
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[quote=propertyzote]This will be a good week for Orbit chemicals after being awarded a total of 11 billion. This award will be one of the largest in Kenya’s history. Initially Orbit Chemicals had lodged an Sh18 billion claim arising from the profits it allegedly lost for failure to utilise the 92.2 acres of land in Embakasi. This may only strain the taxman as as certain this amount cannot be paid in lumpsum. As much as this is a good ruling, in comparison to the Syokimau fiasco the courts are still a flaw. You really need to have the patience,guts and money to win this cases.

http://www.businessdaily.../-/keu10az/-/index.html[/quote]


How so?
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FUNKY
#3 Posted : Tuesday, October 16, 2012 9:22:47 AM
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But the question is will the serikali really pay the money??
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youcan'tstopusnow
#4 Posted : Tuesday, October 16, 2012 9:28:20 AM
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KK got awarded a much smaller sum by an arbitrator but the courts said it was 'too large'
GOD BLESS YOUR LIFE
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propertyzote
#5 Posted : Tuesday, October 16, 2012 10:00:33 AM
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mkeiyd wrote:
[quote=propertyzote]This will be a good week for Orbit chemicals after being awarded a total of 11 billion. This award will be one of the largest in Kenya’s history. Initially Orbit Chemicals had lodged an Sh18 billion claim arising from the profits it allegedly lost for failure to utilise the 92.2 acres of land in Embakasi. This may only strain the taxman as as certain this amount cannot be paid in lumpsum. As much as this is a good ruling, in comparison to the Syokimau fiasco the courts are still a flaw. You really need to have the patience,guts and money to win this cases.

http://www.businessdaily.../-/keu10az/-/index.html[/quote]


How so?


Back in november 2011, Syokimau residents got a reprieve when High Court Judge Martha Koome issued orders stopping the demolitions. This was only short-lived as the houses came down eventually. KAA had gone earlier to court for orders to evict the groups that were encroaching on its land. The court should have at this point issues a stern caveat on the property. Its the struggling mwaninchi of whom you and I know, though they paid for their mistakes.
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mawinder
#6 Posted : Tuesday, October 16, 2012 10:36:54 AM
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Propertyzote you MAY be right but you should know that some of these cases are lost on the incompetence of the advocates and technicalties.
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githundi
#7 Posted : Tuesday, October 16, 2012 10:54:33 AM
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Am disgusted by the ruling. It is taxpayers money that is being used. I think the judiciary as a representative of the will and interests of the kenyan people from whom they derive their authority should be consider this money is paid by wanjiku. The people to be penalized are the incompetent civil servants including the president if responsible. The era of high awards from public purse should be over.
Democracy does not belong to the dead
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mwekez@ji
#8 Posted : Tuesday, October 16, 2012 11:02:03 AM
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youcan'tstopusnow wrote:
KK got awarded a much smaller sum by an arbitrator but the courts said it was 'too large'


A luta continua, vitória é certa
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IDP
#9 Posted : Tuesday, October 16, 2012 11:04:34 AM
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And who is this who defaulted a loan from NBK? I am sure its some of these "reformers" we have today. Was the land acquired legally in the first place? Why the caveat?
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bird_man
#10 Posted : Tuesday, October 16, 2012 11:15:47 AM
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I think the court made a just ruling given the facts I have read in the Business Daily.
Lakini for sure those PSs,Ministers & Lands officials should all be jailed, their property sold off na wachapwe viboko every single day!This is just toooo much!Taxpayers are already overburdened!
Formally employed people often live their employers' dream & forget about their own.
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Rahatupu
#11 Posted : Tuesday, October 16, 2012 1:55:16 PM
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bird_man wrote:
I think the court made a just ruling given the facts I have read in the Business Daily.
Lakini for sure those PSs,Ministers & Lands officials should all be jailed, their property sold off na wachapwe viboko every single day!This is just toooo much!Taxpayers are already overburdened!


@Birdman Shame on you Shame on you Shame on you , I beg to differ. The computation of the amount in question is itself questionable. We cannot just take whatever the courts say to be gospel truth my brother. I cannot comprehend the basis for the computation.
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2012
#12 Posted : Tuesday, October 16, 2012 2:11:19 PM
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The Kenyan way is file appeals and drag the case for 100 years.

BBI will solve it :)
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dunkang
#13 Posted : Tuesday, October 16, 2012 2:39:27 PM
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2012 wrote:
The Kenyan way is file appeals and drag the case for 100 years.


That won't be very wise of the GoK. Remember the sums are accruing interest at 12% P.A. With the Kenya ya Leo, better clear the debts and be mind-free.
Receive with simplicity everything that happens to you.” ― Rashi

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sitaki.kujulikana
#14 Posted : Tuesday, October 16, 2012 3:37:19 PM
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Joined: 8/25/2012
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dunkang wrote:
2012 wrote:
The Kenyan way is file appeals and drag the case for 100 years.


That won't be very wise of the GoK. Remember the sums are accruing interest at 12% P.A. With the Kenya ya Leo, better clear the debts and be mind-free.


the current gok just delays the thing until its term is over, plus debt is not bad - enjoy today.
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