Auction –The woes facing Standard Media Group have increased after an auctioneer moved in to recover sh 4.1 million owed to a former Coast politician with close links to President William Ruto.
Notably, the sh 4.1 million in question is damages awarded to the businessman after he won a defamation case against the media company which the Mombasa Road-based stable has since defaulted on.
In one of its stories, Standard had reported that the former politician had been prevented from selling his parents’ home.
Standard’s report also alleged that the former politician’s niece had accused her uncle of forging her grandmother’s signature to authorize the sale of the property.
”The above matter refers, upon receipt of the Warrant of Attachment and Sale issued on the 6th day of November 2023; we proceed on the 8th day of November 2023 and proclaimed the Judgement Debtor’s movable assets giving the mandatory 7 days notice.” Moran auctioneers said in a statement.
The auctioneering company claims that it is looking to auction assorted items owned by the media house to recover the amount in question including; six vehicles, office chairs, and wooden cabinets.
While issuing the orders on 6th November 2023, the High Court directed the auctioneering company to sell the media house’s property after giving a 15-day notice to the Standard Group.
”These are to command you to sell by auction after giving 15 days’ previous notice, by affixing the same in the Courthouse and after making due proclamation, the Judgement- debtor’s property attached under a warrant from his court, dated the 6th day of Nov 2022 in the execution of a decree in favor of the Decree – holder I High Court Civil Case No. 124 of 2011”
”… or so much of the said property and shall realize the sum of Shillings sh 4,178,218.00 the amount/balance of the said decree and cost still remaining unsatisfied,” the court directed.
Standard Group had earlier apologized to the former politician and admitted to having published a defamatory story.
Nonetheless, the former politician went ahead to sue the media stable anyway.
Meanwhile, Standard Group is facing financial issues with the Kenya Union of Journalists (KUJ) revealing that scribes at the Mombasa Road-based house have gone for more than 6 months without pay.
The company recently enticed long-serving employees on high pay packets to early retirement by dangling golden handshakes as a means to address its financial problems.
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