Is billionaire Buzeki broke??

Prominent Uasin Gishu businessman and politician Zedekiah Bundotich popularly known as Buzeki is fighting to save his company’s assets from being auctioned over Sh105 million debt.

This is after a Sh340 million business deal between his company, Buzeki Enterprises Ltd and Landmark Port Conveyors went sour.

Buzeki who hit the headlines when he mounted a well-oiled campaign against Uasin Gishu governor Jackson Mandago has moved to court to stop auctioneers from attaching his company.

High Court Judge Jaden Thuranira had issued orders allowing Moran Auctioneers Company to auction Buzeki’s company moveable assets but the company is now hanging on temporary orders issued by Justice Msangha Mbogoli that set aside the judgment.

In the case, directors of Landmark Port Conveyors entered into a binding sale agreement amounting to Sh340 million on August 17, 2015, with Buzeki Enterprise Limited for the sale of two properties in Mombasa, the standard reports.

The applicant transferred to Buzeki’s company bank account Sh105 million paid on Sh91 million, Sh9 million and Sh5 million installments and Buzeki was expected to discharge mortgage accrued on the mainland north property upon receive of the deposit and the balance of the purchase price but this did not happen.

Following the inability to pay, the applicant had obtained against Buzeki’s company a proclamation of attachments in the execution of the judgment.

However, Buzeki’s lawyer Pennynah Samba moved to court challenging the ruling arguing that the applicant, Landmark Port Conveyors obtained the orders without the accused being heard.

The matter will be heard on May 7.

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