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6 Pages«<456
Eye on I&M ...
sitaki.kujulikana
#101 Posted : Wednesday, June 05, 2019 1:43:07 PM
Rank: Veteran


Joined: 8/25/2012
Posts: 1,808
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:

The last kicks of a dying horse. Watu wa Othaya walipe deni. Laughing out loudly

Dr. Opus doesn't want upus!
At the heart of the crisis are the tough policy directives issued by Dr Njoroge, which demand banks to aggressively pursue defaulters to keep the financial books clean.
https://www.standardmedi...-over-heads-of-the-rich
Dr. Opus does not believe in forgiveness of debts or mercy on defaulters. He has told the banks to whip the defaulters. I&M is back in court on 19th June to follow the orders sent on from high.

We will celebrate other people's auctions until the hammer turns on us.. No sane man places three properties as collateral with intent to default. The two men have failed the economy


Bank takes money from depositors, lends the depositors money to borrowers.

It is the bank's obligation to protect depositors' money by auctioning security if debtor default. If the bank shirks that responsibility, we end up with another Chase, Imperial and NBK.

No one disputes the need to repay obligations but the question here is whether the economy is allowing profitable trade in any sector apart from Finance and Financial Services


If you can't repay, don't borrow.

If you are in business or ever run your own hustle you wouldn't write such a statement. Plus why would a bank lend to someone who has no repayment ability? I'm telling you that the system is working against Kenyans


I am not the author of capitalism @Obiero. I just state the obvious. If you borrow and can't repay, your security will be attached and sold. Banks, auctioneers, liquidators and corporate scavengers make money during business downturns. More money is made from war than from peace. Capitalism is a jungle, every gazelle trying to outrun the fastest lion and every lion trying to outrun the slowest gazelle. Ni kubaya my fren.

hapo hauja tuenjoy, ama ni just a quote.
sparkly
#102 Posted : Wednesday, June 05, 2019 2:37:14 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,049
Location: Enk are Nyirobi
sitaki.kujulikana wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:

The last kicks of a dying horse. Watu wa Othaya walipe deni. Laughing out loudly

Dr. Opus doesn't want upus!
At the heart of the crisis are the tough policy directives issued by Dr Njoroge, which demand banks to aggressively pursue defaulters to keep the financial books clean.
https://www.standardmedi...-over-heads-of-the-rich
Dr. Opus does not believe in forgiveness of debts or mercy on defaulters. He has told the banks to whip the defaulters. I&M is back in court on 19th June to follow the orders sent on from high.

We will celebrate other people's auctions until the hammer turns on us.. No sane man places three properties as collateral with intent to default. The two men have failed the economy


Bank takes money from depositors, lends the depositors money to borrowers.

It is the bank's obligation to protect depositors' money by auctioning security if debtor default. If the bank shirks that responsibility, we end up with another Chase, Imperial and NBK.

No one disputes the need to repay obligations but the question here is whether the economy is allowing profitable trade in any sector apart from Finance and Financial Services


If you can't repay, don't borrow.

If you are in business or ever run your own hustle you wouldn't write such a statement. Plus why would a bank lend to someone who has no repayment ability? I'm telling you that the system is working against Kenyans


I am not the author of capitalism @Obiero. I just state the obvious. If you borrow and can't repay, your security will be attached and sold. Banks, auctioneers, liquidators and corporate scavengers make money during business downturns. More money is made from war than from peace. Capitalism is a jungle, every gazelle trying to outrun the fastest lion and every lion trying to outrun the slowest gazelle. Ni kubaya my fren.

hapo hauja tuenjoy, ama ni just a quote.



You can quote me smile smile
Life is short. Live passionately.
VituVingiSana
#103 Posted : Wednesday, June 05, 2019 10:43:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,053
Location: Nairobi
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mkenyan
#104 Posted : Thursday, June 06, 2019 8:19:53 AM
Rank: Veteran


Joined: 4/1/2009
Posts: 1,752
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
VituVingiSana
#105 Posted : Thursday, June 06, 2019 9:01:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,053
Location: Nairobi
mkenyan wrote:
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers.
At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Pesa Nane
#106 Posted : Thursday, June 06, 2019 9:48:22 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
VituVingiSana wrote:
mkenyan wrote:
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers.
At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses.


"Andrew Muchina, an employee of the bank, had said in an affidavit that the company’s rights were extinguished at the fall of the hammer on May 28, when the auction was held."
Pesa Nane plans to be shilingi when he grows up.
VituVingiSana
#107 Posted : Thursday, June 06, 2019 10:25:28 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,053
Location: Nairobi
Pesa Nane wrote:
VituVingiSana wrote:
mkenyan wrote:
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers.
At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses.


"Andrew Muchina, an employee of the bank, had said in an affidavit that the company’s rights were extinguished at the fall of the hammer on May 28, when the auction was held."
Well, the good news for Watu Wa Othaya is they now owe less than what they did. Applause Win-Win Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Yliett
#108 Posted : Sunday, June 16, 2019 5:57:55 PM
Rank: New-farer


Joined: 12/23/2018
Posts: 36
Location: germany
Certainly one of the options is to make repayments of debt and get free from this situation. However, I am still not sure if all important information are publicly disclosed, so making any sort of predictions what could happen at the end would be too enthusiastic
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