In September 2022, the court granted KSh 45 million to former managing director Sam Shollei of Keroche Breweries for unlawful termination.
Shollei pointed out that after the brewer failed to pay the loan, interest and legal fees caused the sum to rise to KSh 75 million.
Section 425(1)(b) of the Insolvency Act, 2015, which permits a creditor to request a company’s liquidation, serves as the foundation for the petition.
According to Citizen TV, the court granted the sum as restitution for his work being terminated without cause. Business Daily claims that interest and litigation costs caused the sum to rise to KSh 75 million.
“Keroche owes Shollei more than KSh 75 million at the time of filing this petition, which includes the decretal amount, suit costs, and accrued interest at court rates,” Shollei’s attorney, Daniel Achach, disclosed.
In the last two years, there have been several financial issues about debt settlement at the Naivasha-based brewery, which is owned by Tabitha Karanja, a senator from Nakuru, and her husband, Joseph Karanja.
A KSh 233.7 million debt resulting from legal fees was the subject of a liquidation petition submitted to the court by Hamilton, Harrison, and Mathews Advocates.
Nakuru County claimed KSh 9 million from the company for unpaid liquor licenses and advertising. Despite multiple demands and conversations, the company has not paid the debt, according to Shollei’s insolvency petition filed in the High Court.
According to Shollei’s attorney, the liquidation petition was sparked by the company’s failure to fulfill a pledge to settle the debt and the Naivasha police’s refusal to assist auctioneers in carrying out the court’s decision.
By tuko