Macharia was born in Ndakaini village in Muranga county in the year , he had three sisters and was the second born. His parents were squatters in Subukia Where they worked in British settler plantations under the Colonial Government.
Macharia mother died when he was five years old. In the s managing director of Oceanfreight Transport Livingstone Waithaka paid him Sh, for a plot of land which was never transferred to him. He went to court to recover the money and the courts found in his favour. With a compound interest rate of 19 per cent, Macharia's debt has now ballooned to Sh million.
Having lost in the Court of Appeal this year, Macharia reportedly intends to challenge his bankruptcy ruling in the Supreme Court and has deposited the disputed amount owing in a Judiciary suspense account. An administrator or receiver has not yet been appointed because Waithaka is now assured of the money paid into the suspense account if Macharia's final appeal fails.
However, the bankruptcy order remains a serious operational problem for Royal Media as worried banks may call in their loans. Mark Gakuru, the Official Receiver based at the State Law Office, was reportedly in line to review and establish Macharia's liabilities and assets and start settling his debts.
However yesterday another official at the AG's office said, "This is a private matter between the creditor and the debtor. Potentially Macharia could lose access to his businesses, bank accounts and property that would be under the watch of the receiver. Macharia can keep the Official Receiver at bay by issuing a plan on how he intends to repay all his debts and enter into court-supervised agreements with all the creditors.
He is also reported to have outstanding debts with the Communications Authority of Kenya. Please enter your name here. You have entered an incorrect email address! Recent Posts. Number One Entertainment and News Website. Our articles are well researched to give you factual information of your favourite personalities in Kenya and the region. Contact us: whownskenya gmail. November 20, This website uses cookies to improve your experience.
We'll assume you're ok with this, but you can opt-out if you wish. Accept Reject Read More. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website.
Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies.
0コメント