Mr Munga had asked the judge, through an application, to dismiss the suit, arguing that Bethany Vineyards had filed evidence to prove that its directors approved of court action. Bethany Vineyards and Mr Kamau had claimed in the suit that Mr Munga has since 2011 refused to pay for three million Transcentury shares worth Sh150 million that he purchased from the firm. Mr Kamau sold the shares in 2011 at Sh50 each to Mr Munga after failing to settle a Sh40 million loan he took from Equity Bank. The deal was to see Mr Munga clear Mr Kamau’s loan and remit the balance to him and his firm. But Mr Kamau sued claiming that Mr Munga only cleared the loan balance then refused to remit to him or Bethany Vineyards the balance.

Source: Daily Nation November 16, 2017 18:56 UTC