Karume trustees deny takeover bid

What you need to know:

  • In any event, the trustees argued, the three beneficiaries, Ms Lucy Wanjiru Karume, Mr Samuel Wanjema Karume and Mr Albert Kigera Karume, have also hired the services of three top law firms.
  • According to the trust, it was the three children who initiated the court cases and wondered why they could turn around and blame the trustees for defending their management of Mr Karume’s estates.
  • They accused the trustees of defending their positions as if the assets were their own, arguing that the dispute was a family matter that did not warrant the legal muscle being shown.

Trustees of billionaire businessman Njenga Karume’s estate have dismissed claims by his three children that they want to take over the vast business empire.

Njenga Karume Trust Chairman Ngugi Waireri, in response to a statement by the three, said it was not true that they had hired top law firms to help them win court cases against the children.

“The children have filed multiple suits against the trust and the trustees seeking to contest the terms of the last will and the trust. Likewise, it is the right of each accused party to engage their lawyers to represent them in the multiple independent cases,” said Mr Waireri.

According to the trust, it was the three children who initiated the court cases and wondered why they could turn around and blame the trustees for defending their management of Mr Karume’s estates.

In any event, the trustees argued, the three beneficiaries, Ms Lucy Wanjiru Karume, Mr Samuel Wanjema Karume and Mr Albert Kigera Karume, have also hired the services of three top law firms.

The three siblings have been involved in a protracted court battle with the trustees and executors of Mr Karume’s last will over management of the multi-billion shilling businesses in real estate, agriculture, transport and the hotel industry.

In their statement, the three beneficiaries alleged that the trustees had engaged five senior lawyers and legal firms, and are looking to engage an additional law firm from the UK.

FAMILY MATTER

They accused the trustees of defending their positions as if the assets were their own, arguing that the dispute was a family matter that did not warrant the legal muscle being shown.

“We are struggling to put all our coins together as individuals in order to create a fund to pay the lawyers that we have engaged to help us salvage our family estate. We are not allowed by the trust chairman to use our estate money of course,” said Ms Lucy Karume.

The three siblings want the current trustees to step aside as they have lost their trust and confidence in the way they manage the estate.

In March, the three obtained orders restraining the trustees from selling, transferring, or disposing of immovable properties held under the Njenga Karume Trust or dealing with Pizza Garden in Westlands, Nairobi.

They accused the trustees of operating in an opaque manner, neglecting them and failing to pay school fees and medical bills for Mr Karume’s grandchildren.

The trustees, however, accused the three of lying to obtain the orders, arguing that the application to remove them from the trust is frivolous, full of deceit and is an abuse of the court process.