Vihiga MP Yusuf Chanzu has one day to prevent his over Sh45 million Karen home from being auctioned.
In a ruling by Justice Msagha Mbogholi Tuesday, the High Court declined to issue an order stopping Equity bank and Capital Construction Company from taking over the property.
The judge, however, allowed his wife Ms Jamila Oyoo Chanzu, who had filed the case, to deposit security in order to save their Sh45,634,544.07 property from being auctioned on Wednesday, June 29 at 11am.
The judge pointed out that since the dispute involving their property had gone its way to the Court of Appeal, which had declined to issue a ruling in the legislator’s favour, he could not rule otherwise to contradict a higher court’s verdict.
POST A SECURITY
“I am not persuaded that a stay should be granted and I therefore decline to allow the same, I shall allow Ms Chanzu to post a security before the fall of the hammer,” Justice Mbogholi said.
The judge had, however, also noted that in the earlier case, which was initially filed by the MP, he had urged court to allow him to deposit security but he allegedly failed to honour his promise.
“This court takes note that the ones who are seeking remedy in both cases are a couple, their relationship compels us to observe the default on the part of the husband, there is no guarantee that the spouse will honour such an undertaking,” the judge said.
The dispute arises from a Sh19 million loan which Mr Chanzu took from the said bank in November 2007.
But as at April 25, the outstanding debt stood at Sh45,634,544.07.
Two years ago, Mr Chanzu had first moved to the High Court seeking to stop the bank from advertising for sale, disposing of, selling by private treaty or otherwise interfering with his possession, occupation and use of the residence.