× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Court ruling seals fate of Karuturi workers

REAL ESTATE
By Antony Gitonga | January 28th 2019

NAIVASHA, KENYA: The fate of over 3,000 ex-Karuturi flower farm workers hangs in the balance following Court of Appeal ruling that the firm owners should pay Sh1.8B owed to CFC Stanbic Bank.

The move paves way for the auction of the firm that at one time was the world leading producer of roses at 1million stems per day before debts leading to its placement under liquidation.

And with the ruling, the fate of two schools around the farm, a closed health center, tens of businesses and aspirations of hundreds of families have been dashed.

The ruling incidentally came a fortnight to February’s Valentine Day when demand for roses from Kenya to the European market is at its highest.

On Friday, Judges William Ouko, Stephen Gatembu Kairu and Daniel Musinga dismissed with cost, an appeal case filed by Karuturi.

In the case, the owners were challenging a decision made by the High Court on 19th January 2018 allowing CFC Stanbic to auction assets of the firm if they failed to clear the Sh1.8 billion debt.

Share this story
Commission on receiving end for allocating road to private developers
Kenya Ports Authority has moved to court to compel the National Land Commission (NLC) to revoke four title deeds of seven individuals
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.
.
RECOMMENDED NEWS
Feedback