Residential property belonging to retired African inland church (AIC) bishop Silas Yego has been put up for sale over Sh153 million debt.
Watts Auctions on Monday put an advert in the newspapers asking potential buyers to get the property in question by March 23.
The property is in Kileleshwa.
In the notice, Watts says prospective buyers must deposit at least 25 per cent in cash or banker’s cheque at the fall of the hammer and the balance should be paid within 90 days.
The bank has told the court the outstanding figure is now Sh153 million and Yego is yet to pay.
Last year, Yego also lost two attempts to stop the auction when both the High Court and Court of Appeal ruled against him.
This year, he filed a new application seeking to stop the auction by Purple Royal Auctioneers.
He wanted to be given at least four months to repay the debt.
He had also said that he made several efforts to liquidate the debt by disposing of his other properties and making proposals but the lender has been “unreasonable”, hence denying him the right to redeem the property.
But in his ruling last month, Justice David Majanja dismissed Yego’s application, saying he had not presented any new facts to enable the court to adjudicate the matter afresh.
“In other words, this application is res judicata (a decided matter). Further, as the Court of Appeal held, the plaintiff is indebted to the bank and nothing now stands in the way of the bank exercising its statutory power of sale,” the court ruled.
There's no story that cannot be told. We cover the stories that others don't want to be told, we bring you all the news you need. If you have tips, exposes or any story you need to be told bluntly and all queries write to us [email protected] also find us on Telegram
