alexa Bank now free to auction MP Arama's Sh9m home - Daily Nation

Bank now free to auction MP Arama's Sh9m home

Friday February 21 2020

Samuel Arama

Nakuru Town West Samuel Arama. Family Bank is now free to auction his house over unpaid mortgage. FILE PHOTO | NATION MEDIA GROUP 

JOSEPH OPENDA
By JOSEPH OPENDA
More by this Author

Family Bank is now free to auction the home of Nakuru Town West MP Samuel Arama after the lawmaker gave up his bid to stop the sale.

The MP withdrew an appeal he had filed in court challenging the judgment of Justice Dalmas Ohungo delivered in 2017, which allowed the sale of his home over Sh9 million mortgage arrears.

Mr Arama through his lawyer applied to withdraw the case from the Court of Appeal saying the matter has been overtaken by events.

He also sought to to be excused from paying the cost of the application.

But the bank convinced the three judges to award them the cost.

The MP moved to court in 2017 to have the bank restrained from selling the land, registered under his wife’s name -- Florence Mandere Masita.

Advertisement

He told the court that the business he started using the loan failed which made it difficult to re-service the whole amount.

The MP, however, explained that he had paid the principal amount as advanced together with interest.

He accused the bank of failing to issue a notice to his wife, who was the registered owner of the land.

In its response, the bank termed Mr Arama’s application as frivolous, mischievous and lacking in merit.

The bank had hired Jogedah Auctioneers to sell the land and intended to dispose it at Sh 9,150,000.