Heineken heads to court to bar Equity from paying Ngugi Kiuna’s Sh1.7bn award

Dutch beer maker Heineken has moved to the Supreme Court seeking a stay of a decision granting Ngugi Kiuna more than Sh1.7 billion for terminating a distributorship agreement, arguing that the Kenyan tycoon was likely to compel Equity Bank to release the money.

Heineken East Africa Import Company revealed in court papers that it procured a bank guarantee from Equity Bank while the case was pending at the Court of Appeal and Maxam Limited, Mr Kiuna’s firm was likely to call for the release of the money any time.