Economy

Uhuru sister sues trader for Sh5m

case

Kristina Pratt, 67, wants the court to compel Richard Thande to shoulder the costs of the suit. FILE PHOTO

President Uhuru Kenyatta’s elder sister has sued former captain of Karen Country Club Richard Thande for failing to repay a Sh5 million debt.

Kristina Pratt, in papers filed at Nairobi’s Milimani Commercial Courts, says Mr Thande breached a repayment deal reached on November 2011 that directed the businessman to make monthly payments of Sh20,000 to clear the debt.

“The plaintiff (Mrs Pratt) avers that the defendant (Mr Thande) has since entering the agreements only paid a sum of Sh20,000,” says Ms Pratt in court documents.

“The plaintiff further avers that despite numerous requests and demands in June 2018 to the defendant to refund the remaining sum of Sh4,980,000, the defendant has declined to settle the same.”

The monthly repayment meant Mr Thande would have taken 250 months or 20 years to clear the debt on assumption it was lent interest free.

A similar loan borrowed from a commercial bank over a period of five years at the current interest rate of nine per cent will lead to monthly repayments of Sh114,000. A mortgage of 20 years will require monthly repayments of Sh59,000.

Mrs Pratt, 67, wants the court to compel Mr Thande to shoulder the costs of the suit.