Wananchi Nominees Limited insists that Mr Justice Ochieng’s order suspended the proposed sale of WBS and has now filed a fresh application seeking to clarify the judge’s directions.
But Wananchi Group Holdings Limited insists that the judge would have directly issued an order suspending the sale of WBS if that was his intention.
A fresh feud has emerged between shareholders of Internet and pay-TV service provider Zuku over the proposed sale of Wananchi Business Services (WBS), a unit that deals with corporate data services.
Wananchi Nominees Limited (WNL) and International Consulting Marketing Services (formerly ISP Kenya) have differed with Wananchi Group Holdings Limited on whether an order issued by Justice Fred Ochieng in May maintaining the status quo stopped the planned sale of WBS.
WNL insists that Mr Justice Ochieng’s order suspended the proposed sale of WBS and has now filed a fresh application seeking to clarify the judge’s directions.
But Wananchi Group Holdings Limited insists that the judge would have directly issued an order suspending the sale of WBS if that was his intention.
Zuku co-founder Richard Bell has through his East Africa Capital Partners sued other Zuku shareholders WNL, International Consulting Marketing Services and East Coast Telecoms to bar them from instituting any civil or criminal proceedings against him for alleged mismanagement, asset stripping and tax fraud.
But WNL, International Consulting Marketing Services and East Coast Telecoms have in a counterclaim asked the court to bar the proposed sale of WBS and to order Mr Bell to pay them damages for breaching a management agreement he signed with them by allegedly bungling operation of the Internet and pay-TV firm.
“I very believe that in order to safeguard the subject matter of the counterclaim (sale of WBS), it is necessary for this court to clarify the orders made by Justice Ochieng,” WNL chairman Joe Kamau says in court filings.
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