A High Court ruling by Justice Mary Kasango has dismissed Billionaire businessman Peter Munga’s plea seeking to strike out a case filed by his friend-turned-adversary, Joseph Kamau, who is seeking a Sh150 million compensation from the tycoon. This ensued after a botched share sale deal upon which Mr Munga has failed to stop the multi-million demand. Peter Munga is a businessman and founder of Equity Bank.
Justice Mary Kasango said that Mr Munga had suffered no prejudice with regard to Mr. Kamau taking a long duration to file the affidavit. Mr. Kamau had taken six months to file the affidavit. Mr Munga, the former Equity Group chairman, wanted the case dismissed, arguing that there was no resolution from the board of directors of Bethany authorising Mr. Kamau to file the claim against him. Mr Munga, while arguing his case, had stated that the case lacked authority and that it had failed because Mr. Kamau did not file the affidavit within seven days as directed by Justice Fred Ochieng in November 2017.
According to Justice Kasango, there was no requirement for a company to present a resolution indicating that it had authorised the filing of a suit or an affidavit on its behalf. However, Mr Kamau said the directors who sanctioned the filing of the case were legitimate and had also allowed him to swear the affidavit outlining the same.
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