It’s unbelievable that a man as rich as the late Mr. Biwott also went for soft loans.
This would have been the case until one Eldoret based businessman named Barnabas arap Kiprono filed a case in court seeking repayment.
Kiprono aka ‘Lodwar’ is a real estate developer whose life is really hard to keep up with. ‘He can easily disappear in a crowd of three people.’ This man runs a range of businesses that it’s even hard to tell if he owns them or not.
‘Lodwar’ who happens to be one of the wealthiest men in Eldoret has incorporated Biwott’s wife, Hannie Biwoth and his two daughters Rhodah Biwott and Catherine Biwott. This happened following an announcement gazetted by the family on notice no. 32 of the 5th day if January 2018 calling upon all creditors to the late Mr. Biwott to show up by the 6th day if March.
Kiprono has gone to court also alleging that the family shut the gates on his face when he went to offer them the court subpoena. Efforts to use private means to settle this issue had also failed to succeed hence giving ‘Lodwar’ no choice but to go to court.
The court has since then given a 21 day notice for the family to respond.
According to Mr. Kiprono, in a sworn affidavit, the money had been borrowed on ;
The 5th day of November 2015, Ksh. 50million to be paid with 25% interest.
The 11th day of December 2015, Ksh. 35million to be paid with a 30% interest.
The 9th day of January 2016, Ksh. 10million to be paid with 30% interest.
The 20th day if February 2016, Ksh. 2million to be paid with 30% interest.
The 29th day of March 2016, Ksh. 280million to be paid with 18% interest.
The 2nd day of September 2016, Ksh. 5million to be paid with 30% interest.
All this Ksh. 382million plus the accrued interests could add up to Ksh. 1billion which Mr. Kiprono thinks is more than what Mr. Biwott owned.