August 31, 2014 - Today's News In Gazetikenya

Battle looms over billion-shilling properties

DISPUTE | Moi, Biwott and Kulei tussle over unidentified prime properties in Nairobi

A vicious battle for control of multi-billion-shillings in assets linked to former President Daniel arap Moi and Kanu-era Cabient minister Nicholas Biwott is taking shape after lawyers representing them wrote to a company associated with one of their key allies demanding the return of property in Nairobi allegedly held on behalf of the pair. In what sources familiar with the intrigue say could be a wider scheme to reclaim property previously held in trust by associates of Mr Moi and Mr Biwott, there are fears the dispute could end up in court and partly expose the extent of the wealth of the two individuals.

However, it is not clear why the two men have chosen to engage in legal battles at this moment in time. People close to their families say perhaps those who stand to inherit would like the property to revert to the principals from the nominees who were entrusted with it. In a letter dated June 16, 2014, Kipkenda and Company Advocates — representing Mr Moi and Mr Biwott — asked the lawyers of Belgo Holdings Ltd to return two unidentified prime properties in Nairobi worth millions of shillings that they have allegedly been holding in trust. In an interesting turn of events, one of the letters reveals that Belgo Holdings is associated with Mr Joshua Kulei, Mr Moi’s former private secretary and one of his most trusted allies.

 “Our clients are currently reconstituting trustees of their various investments. As the owners of the companies and the properties where your roles are restricted to trusteeship, our clients had verbally indicated to you that they require all titles to the trust properties held by you returned to them,” write the lawyers. The letter traces the genesis of the ownership to 1980 when individuals associated with a company that was later registered as Belgo Holdings, were allegedly asked to incorporate Lakeview Developments Ltd as the nominees and trustees of Mr Moi and Mr Biwott for the two properties. But Belgo Holdings, whose shareholders are listed as Akber Abdullah Kassam Esmail and Shirin Esmail, is accused of transferring the property to itself and shunting the interests of Mr Moi and Mr Biwott.

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