High Court stops creditor from repossessing Nakumatt equipment
SEE ALSO :Nakumatt creditors’ meeting aborts“In the interim, an unconditional stay of execution be and is hereby granted of the attachment commenced vide proclamation Notice issued on September 23, 2019 in respect to Nakumatt’s assets situated at her branches in Lavington and Prestige as well as any process for 30 days,” ruled Thuranira. Nakumatt’s lawyer D Ngonze said the supermarket had already paid Rentworks Sh2.4 million. He said through a contract dated January 25, 2019, Nakumatt agreed to pay Sh1,807,447, including VAT, until payment in full. They were to also pay Sh42,419,388 and VAT due and owing to the lessee as at January 23, 2019 before Nakumatt ran into financial turbulence. “Nakumatt had exclusively taken possession of the equipment for the sole utility at their retail supermarket,” said Ngonze. However, Ngonze said following the financial turmoil experienced by the once-prestigious chain-store in East Africa, they were unable to pay the monthly dues.
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