More than 9,000 pensioners of the defunct Kenya Post and Telecommunications Corporation (KPTC) have achieved legal victory as the Court of Appeal upheld their ownership claim over a contested Ksh 1 billion property in Nairobi’s upscale Upper Hill area.
Justices Hannah Okwengu, John Mwera and Ngenye Macharia settled the two-decade dispute on Friday, dismissing a claim by a prominent figure from the Moi era as “baseless.”
The dispute centred around a property claimed by Park Avenue Investments Limited, associated with businessman Ken Boit, a close ally of former President Daniel Moi.
Park Avenue Investments contended ownership dating back to 1996 but KPTC transferred ownership to Telposta Pension Scheme two years later.
The pension scheme representing over 9,000 former KPTC employees escalated the case to the Court of Appeal after an unfavourable High Court ruling that preferred Park Avenue Investments, jeopardizing pension payments.
Following their ruling on July 12, the judges concluded that Park Avenue Investments had fraudulently acquired the property in collusion with government officials.
Before the ruling, the property’s title was held by Intercountries Trust Bank Limited (in liquidation) which sold the land as collateral to recover a loan after Park Avenue Investments defaulted.
