Court dissolves Chinedu firm
PHOTO | FILE The Deep West Resort in Nairobi, which is owned by Nigerian businessman Antony Chinedu and his estranged Kenyan wife Joyce Akinyi. A court on May 20, 2014 ordered for the dissolution of the couples’ company and directed them to share its assets.
What you need to know:
- Couple’s relationship is so strained that they cannot manage a business together
- Justice Eric Ogolla ordered that the couple’s Elegance Investment Limited be wound up and its assets distributed in accordance to each member’s contribution.
A court has ordered for the sale of multi-million shilling property belonging to Nigerian businessman Antony Chinedu and his estranged Kenyan wife Joyce Akinyi and directed them to share its assets.
The order was made Tuesday in Nairobi at the conclusion of a bitter property dispute between the husband and wife-turned-arch-enemies.
Justice Eric Ogolla ordered that the couple’s Elegance Investment Limited be wound up and its assets distributed in accordance to each member’s contribution.
“The company is hereby wound up by the court under the provisions of the Companies Act,” he ruled.
The judge said he had established that the firm had only two directors and shareholders, who were “at one stage husband and wife”.
“It is also on record that the relationship between the two is so bad that they cannot sit down to transact the business. The most optimistic person cannot revive it.
“The assets of the company shall be distributed in accordance with the members’ respective share holding,” the judge said.
He said he had considered that Mr Chinedu was deported to his home country and that there was no indication on when the different cases lodged against him by Ms Akinyi would be concluded, if ever.
He said it was just and equitable to wind up the company to save its assets from being interfered with.
“If the company is not being run, then under the law it has no business being in existence.”
