The High Court has allowed a macadamia processing firm to attach the bank accounts of AIG Kenya Insurance Company over a debt of about Sh60 million, which the underwriter was directed to pay in January.
Wondernut International (EPZ) was awarded the money in January this year after proving that the fruits it had exported to the US in August 2018, but were later rejected because some were rotten, had been covered by the insurer.
The nut processing firm moved to court in June arguing that the insurance firm was yet to settle the amount. The company then sought court’s nod to attach the insurer’s bank accounts at NCBA Kenya and Stanbic Bank Kenya.
AIGI Insurance had opposed the application arguing that it has appealed against the decision, which will be rendered useless if the judgment is not stayed.
“The defendant (Wondernut) was able to demonstrate that, if the appeal is successful, it would be capable of refunding the decretal sum,” Justice Mabeya ruled.
The judge said the processor demonstrated that it was not a company of straw, as it was a leading macadamia processing company in Kenya with substantial assets which was insured in the sum of Sh497 million.
“That it held substantial monies in its accounts including an unencumbered fixed account for $1,500,000/.
Evidence tabled in court showed that Wondernut shipped five containers of macadamia nuts worth Sh34.3 million to a customer in the US on August 24, 2018.
Upon arriving at the destination, one of the containers in the consignment was rejected by America’s regulator, the Food and Drug Administration (FDA).
