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Foreign Tycoon Loses 20 Vehicles in Ksh7B Row
Imported cars at the port of Mombasa await clearance.
File
A foreigner is set to lose 20 vehicles after the court authorised a private auctioneer to proceed with the sale of the automobiles to offset a loan balance.
Justice David Majanja directed the Registrar of Motor Vehicles to transfer and issue the logbooks to seven buyers who had purchased the cars through a private settlement.
The court also blocked the Kenya Revenue Authority (KRA) from demanding Ksh 7.3 billion from the Lebanese billionaire, who owns Zakhem International Construction. KRA sought to block the auctioneer from selling the cars and trailers, arguing that the foreigner owed tax worth billions.