[Source: Business Daily, by Philip Muyanga]
Chinese conglomerate China Wu Yi (Kenya) Company has sued a Mombasa-based lawyer seeking refund of Sh20 million he allegedly received as advance payment in an aborted sale of a Sh1.2 billion parcel of land in Mombasa County.
The firm wants Stephen Kithi compelled to refund Sh5.8 million in legal fees incurred by the company.
China Wu Yi claims that on or about July 30, 2016 it entered into a sale agreement with Mr Kithi in his capacity as a beneficial owner of the land having obtained authority on behalf of the registered owner.
The company claims that after execution of the variation, it proceeded to pay the lawyer Sh121 million being 10 percent of the purchase price. The money was allegedly deposited into an interest earning bank account held jointly by lawyers for both parties.
[Full article: Business Daily, by Philip Muyanga]
