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Another major new twist, and another one for Ronalo Foods owner following twin court cases.

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The last bit of the year 2021 is turning out to be quite a checkered one for hotelier, and owner of the popular fish restaurant Kosewe, Mr. William Osewe Guda. More so this week. Less than twenty-four hours ago Magistrate Martha Mutuku sentenced Tom Orwa Mboya to more than 20 years in jail for shooting and nearly killing him following a fight over a woman back in 2016 that degenerated into a shootout in Hagon Fish Restaurant along Thika Road. However, 48 hours before this, and in a totally unrelated court case, things went from bad to worse for Osewe, making this an incredibly bizarre week.

An auctioneer put a prime commercial property belonging to prominent eatery owner K’Osewe on sale over a loan of Sh330 million owed to GT Bank at the beginning of the week.

Mr Osewe has been battling from auctioneers since 2018 over a Sh330 million loan he borrowed from Guaranty Trust Bank (GT Bank), secured using an unfinished hotel in Kisumu and the South C flats, but failed to service the loan.

In February, the Court of Appeal stopped the lender from auctioning the property together with his four-star hotel in Kisumu on condition that he deposits Sh25 million in court in 45 days.

“We have considered the application and conclude that the grounds raised by the applicants are arguable and cannot be said to be frivolous such as to be dismissed as insubstantial. Their properties are in danger of being sold and if this application is not granted they stand to suffer a colossal loss if transferred to third parties due to the value involved, and the appeal would be rendered nugatory,” said Justices Hannah Okwengu, Patrick Kiage and Jamila Mohammed.

The stalled seven-storey hotel in high-end Milimani Estate sits on 1.3 acres was to be sold in January after Mr Osewe failed to persuade High Court judge Thripsisa Cherere to stop the bank from auctioning it.

But he rushed to the appellate court, arguing that he has continued to service their loan despite disruptions caused by the Covid-19 pandemic.

For current information about Kenya news curfew, Real estate, credit and other companies offering loans to individuals and small businesses , healthcare and treatment information, always browse kenyan report.

Chief Magistrate Martha MutukuRonalo foodsTom Orwa MboyaWilliam “Kosewe” Osewe

The post Another major new twist, and another one for Ronalo Foods owner following twin court cases. appeared first on CmaTrends.

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