Presidential Candidate Jirongo Declared Bankrupt Over Sh700 M Debt

Illuminated

Village Elder
#1
A court has declared former presidential contender Cyrus Jirongo bankrupt after finding him unable to pay debts amounting to Sh700 million. Justice Olga Sewe of the commercial division said on Monday that Jirongo's inability to repay was demonstrated. The money is to be repaid to businessman Sammy Kogo.
The judge ordered an official receiver be appointed as trustee for Jirongo's estate. Kogo, through his eight companies, petitioned the court seeking bankruptcy orders against the politician. Jirongo had secured a loan from National Bank of Kenya using the businessman's properties but failed to repay.
According to court papers, he was to make payments within 180 days from September 12, 2013. The bank moved in and sold the properties held as security in 2009. Jirongo entered an agreement to pay Sh700 million, being the value of the properties sold by the bank through a public auction. He failed to honour the agreement within the stipulated period, causing the appropriator of the properties to institute court proceedings against him.
 

Illuminated

Village Elder
#8
Huyu ni Sammy Kogo wa Kogo Plaza hapo Nai West?
Jirongo and his finances ni moto wa kuotea mbali. He still owes me 3 months salo when I worked for him.
That's from 2007/8.
He's bankrupt now, and the states is aware. You had all time to file your petition against him
 

Masood

Village Elder
#17
@uwesmake naskia Jirongo is very generous. Can you confirm. Tukiwa campus we would visit his Loita house offices kumsalimia na he used to tell his shiny eye accountant atupe kitu ya weekend.
 

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