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Auctioneers seize property worth US$98,716 from Mombasa shipping firm
PROPERTY worth KES10 million (US$98,716) has been seized by auctioneers from Threeway Shipping Services Ltd, after the Mombasa freight company failed to repay a debt of KES4.8 million.
The company allegedly lost the goods in a container in its charge three years ago, reported the Nairobi Star.
The money, owed to Elizabeth Namutebi, covers the value of the goods together with accumulated interest.
Following a lengthy court battle, Milimani law courts ruled that the goods were valued at KES1.7 million. However, Autoland Auctioneers managing director Ezekiel Kiminza said the loss has accumulated interest of KES3 million during the legal process.
The assets seized by the auctioneers from the company's office situated at Inchape Building in Mombasa included six vehicles, 26 computers, several sets of furniture, photocopiers and water dispensers.
The company allegedly lost the goods in a container in its charge three years ago, reported the Nairobi Star.
The money, owed to Elizabeth Namutebi, covers the value of the goods together with accumulated interest.
Following a lengthy court battle, Milimani law courts ruled that the goods were valued at KES1.7 million. However, Autoland Auctioneers managing director Ezekiel Kiminza said the loss has accumulated interest of KES3 million during the legal process.
The assets seized by the auctioneers from the company's office situated at Inchape Building in Mombasa included six vehicles, 26 computers, several sets of furniture, photocopiers and water dispensers.
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