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Pattni firm suffers setback over Laico Regency deal


Pattni firm suffers setback over Laico Regency deal
Monday July 26 2021
By SAM KIPLAGAT
Summary
Westmont was seeking to overturn the demand to deposits Sh20 million before its multi-billion shilling claims against the CBK can proceed.
Malaysia-based Lynwood Development Limited used its local agent, Westmont Holdings, to pay Sh185.5 million to the CBK in April 1997, being a 10 percent deposit for the purchase of Grand Regency Hotel.
The hotel was ultimately sold to Libya Arab Investment Company (Laico) and renamed Laico Regency, prompting Westmont to sue seeking refund.
A company associated with Goldenberg architect Kamlesh Pattni has lost a bid for Supreme Court to determine its dispute with the Central Bank of Kenya (CBK) over a multi-million shilling claim linked to sale of Laico Regency hotel. ....

Justice Majid Cockar , Justice Luka Kimaru , Mwai Kibaki , Hames Watts , Kamlesh Pattni , Lynwood Development , Libya Arab Investment Company Laico , Central Bank , Regency Hotel , Supreme Court , Westmont Holdings , Lynwood Development Ltd , High Court , Laico Regency , Lynwood Development Limited , Grand Regency , Libya Arab Investment Company , Grand Regency Hotel , கமலேஷ் பட்டணி , மைய வங்கி , ரீஜென்சி ஹோட்டல் , உச்ச நீதிமன்றம் , உயர் நீதிமன்றம் , லைகோ ரீஜென்சி , மாபெரும் ரீஜென்சி , மாபெரும் ரீஜென்சி ஹோட்டல் ,

BBI process is people driven, secretariat says


THE STANDARD
POLITICS
Building Bridges Secretariat and a section of Jubilee Party and ODM Members of Parliament at a press conference.[Samson Wire, Standard]
 
Promoters of the Building Bridges Initiative (BBI) have instructed their lawyers to file an appeal at the Court of Appeal next week and exuded confidence of success, adding that they believe the process is people driven.
 
BBI Secretariat co-chairmen Junet Mohamed and Dennis Waweru described the ruling as more focused on the taskforce and deliberately ignored the BBI Secretariat as the promoters of the Bill.
The judges stopped the President who is not a promoter of the BBI Bill. We assure Kenyans that we shall continue to promote the constitutional amendment Bill until it is ratified by Kenyans, said Junet. ....

Nairobi Area , North Eastern , Junet Mohamed , Dennis Waweru , Steering Committee , High Court , Building Bridges Initiative , Garissa Senator Yusuf Haji , Stakeholder Validation , Laico Regency , Court Of Appeal , Bbi Secretaria , Bbi Taskforce , நைரோபி பரப்பளவு , வடக்கு கிழக்கு , திசைமாற்றி குழு , உயர் நீதிமன்றம் , கட்டிடம் பாலங்கள் முயற்சி , காறிஸ்ஸ செனட்டர் யூசுப் ஹாஜி , லைகோ ரீஜென்சி , நீதிமன்றம் ஆஃப் முறையீடு ,

Q&A With SACCOs Authority CEO John Mwaka


Q&A With SACCOs Authority CEO John Mwaka
Sacco Societies Regulatory Authority(Sasra) CEO John Mwaka faced questions about the Sacco sector from members of the public via Sunday Nation.
The limitation on the number of saccos one can belong to (no more than one serving similar purpose) is discriminative and nowhere else is such a principle applied. What is so unique about saccos?
Joan Nafula, Maseno
The rationale is to avoid SACCOs from competing in an unhealthy way. For, instance, if we allow this practice, an employer will be in a dilemma on which deduction should be implemented first if both of them require loan repayment from the same payroll. However, a person can belong to more than two cooperatives if they do not serve the same objective. An employee with a tea plantation can belong to an employer-based Sacco and also one that receives payment for tea proceeds. ....

Rift Valley , Kenya General , Steve Mwaisaka , Osanya Luke Wilson , Joan Nafula , Victor Muchui , John Mwaka , Dan Murugu , Komen Moris , Irungu Maina , Sacco Societies Regulatory Authority Sasra , Central Liquidity Fund , Department Of Cooperatives , Societies Regulatory Authority , Sacco Fraud Investigation Unit , Macadamia Sacco , State Department , Laico Regency , Regency Sacco , பிளவு பள்ளத்தாக்கு , கேந்ய ஜநரல் , டான் முருகு , கோமேன் மோரிஸ் , ஸ்யாகொ சமூகங்கள் ஒழுங்குமுறை அதிகாரம் சஸ்ரா , மைய நீர்மை நிறை நிதி , துறை ஆஃப் கூட்டுறவு ,