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Court cases rock sharing of Mbiyu Koinange estate – Business Daily

Late Mbiyu Koinange. FILE PHOTO | NMG
The sharing of the multibillion-shilling estate of former Cabinet minister Mbiyu Koinange will take longer after beneficiaries swamped the High Court with multiple applications expressing dissatisfaction with a decision rendered two years ago over the distribution of the properties.
Justice Aggrey Muchelule had in May 2020 ended the four-decade-old succession case sharing the property including land scattered across the country and shares in various companies to the 12 beneficiaries.
But soon after deciding the case, some of the beneficiaries moved back to the High Court seeking to suspend the decision, while others sought to give the registrar of the court powers to execute all documents, ready for distribution. Some family members also filed applications seeking the removal of David Njunu Koinange, Margaret Njeri, Lennah Koinange and Eddah Wanjiru as administrators of the estate.
In total, 16 applications have been filed before the High Court and the parties are expected to appear before Justice Eric Ogolla Monday morning to agree on how to dispose of the applications.
In the judgment, Justice Muchelule (now Court of Appeal judge) directed all the properties to be shared equally among all the children irrespective of their sex or marital status.
Read: Court ends 40-year row over Koinange’s Sh14bn estate
Mr Koinange, who served in Mzee Jomo Kenyatta’s Cabinet and briefly in Daniel arap Moi’s administration, died on September 3, 1981 intestate.
Other than stopping the execution of the judgment, some of the beneficiaries are asking the court to compel the administrators to table the accounts of the estate.
Another application to be decided is a plan to sell 9.7 acres of land to be identified so that the money can be used to settle all liabilities, and also the opening of a bank account for the estate.
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Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.