I am surprised if the apartments don't flood during the rains coz they are downstream across the dam.

Some tenant said the ground floor floods completely in an interview yesterday.

In China we execute with a single bullet between the ear and eye in an isolated bushy farmland all those who were responsible in allocating, licensing and approving such buildings.
The juicy important point is what has the “shithole” done to the responsible persons

Walipea Weston pia..

KCB according to confidential documents we have, granted the hotel with three loans, the first two of Sh150 million and Sh350 million on October 27 2014 with the documents being processed and signed by a land registrar Carolyn Kituyi who is among individuals charged recently at anti-corruption court in Milimani over the SGR land in Embakasi for authorising payments amounting to Sh314 million to individuals with fake land documents for the SGR.
Another Sh700 million was given to the hotel on July 21 2015 by Kenya Commercial Bank through the authorisation of a land registrar Sarah Chelimo Maina who appended her signature on the documentthat made it easy for the bank to release the funds to the hotel which now has a contest with KCAA.
The value of the hotel is over Sh600m

It's a class issue. When it's middle class mortgage takers we feel sorry

When it's some rich Mhindi, we feel zero. We get racist even

@lonest, you have explained it well!

Proper lending practice recognizes that security is just insurance in case you don't pay.
The fact that the security is gone does not mean your ability to repay is also gone - those are 2 different mutually exclusive manenos.
Si bado unaenda job? Si bado unatwanga biz and getting some mullah? Unless the biz was located at the affected premises.

So Banks will still come after you to pay if you default; for starters, utaingizwa CRB.

And given you signed a personal guarantee, all your other assets plus the kienyeji kuku you are keeping for the coming Xmas festivities can be sold off to pay off the outstanding bank debt.

If someone else had guaranteed your debt, the bank will come for them with the same gusto and the courts ruled recently that even the guarantor can now be listed on CRB if they don't pay off a debt they have guaranteed.

Guarantor assets can be similarly sold.

If you have no further assets of value, and you have the means, then the bank can apply to have you committed to civil jail for willingly failing to pay off its debt.

they aren't allowed to sell personal stuff like your chicken. anyways, the best way out of it is apply for bankruptcy, re-arrange your debt, pay only a small part of it, discharge the bankruptcy and you are home dry.

Employment contracts, govt and private sector, have a clause where the employee confirms that he does not suffer pecuniary embarrassment. In other words you are not bankrupt. So if you were to file for bankruptcy it means you are FIRED, or rather you have just fired yourselefu.

Kenyans are very funny people.

It seems that the only people in the world who didn't know that the land was grabbed are the fools who bought the properties.

I'm waiting for the ones in Nyayo Highrise to also pretend they didn't know their land was grabbed.

Watu warudishe mashamba za serekali.