[2024] KECPT 969 (KLR)

[2024] KECPT 969 (KLR)

The Tribunal found that the respondent admitted to owing the claimant the sum of Kshs. 78,250/= as deposits. However, the respondent demonstrated that it faced liquidity challenges and had adopted a refund schedule through an AGM resolution to ensure the Sacco's financial stability. The Tribunal accepted that...

Source-derived case information.

Citation
[2024] KECPT 969 (KLR)
Parties
Applicant: Elphas Winjira Ingutia; Respondent: Metropolitan National Society Limited
Court
Cooperative Tribunal
Jurisdiction
Kenya
Case Number
Tribunal Case E046 (34) of 2022
Procedural Posture
Tribunal Claim / Judgment
Outcome
judgment for claimant, refund to be paid as scheduled
Judges
J. Mwatsama, B Sawe, F Lotuiya, P. Gichuki, M Chesikaw, PO Aol
Legal Topics
Sacco Member Deposits, Refund Schedule, Withdrawal of Membership
Source Language
en
Civil Procedure Commercial and Corporate Sacco Member Deposits Refund Schedule Withdrawal of Membership

Source-derived case record

Summary, issues, holding and outcome

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Parties

Elphas Winjira Ingutia

Applicant

Metropolitan National Society Limited

Respondent

Procedural Posture

Tribunal Claim / Judgment

  1. 1 Whether the claimant is entitled to immediate refund of his deposits upon withdrawal of membership.
  2. 2 Whether the respondent's refund schedule, as per the AGM resolution, is binding on the claimant.

Ratio Decidendi

The Tribunal found that the respondent admitted to owing the claimant the sum of Kshs. 78,250/= as deposits. However, the respondent demonstrated that it faced liquidity challenges and had adopted a refund schedule through an AGM resolution to ensure the Sacco's financial stability. The Tribunal accepted that immediate refund to all withdrawing members could jeopardize the Sacco's operations. Therefore, it was reasonable and lawful for the respondent to refund the claimant as per the established schedule, specifically on 23rd May, 2024. The Tribunal entered judgment in favour of the claimant for the sum of Kshs. 78,250/=, to be paid on the scheduled date, together with costs and interest.

Court Disposition

judgment for claimant, refund to be paid as scheduled

Orders

  • The respondent shall pay the claimant Kshs. 78,250/= on 23rd May, 2024.
  • The respondent shall pay costs and interest to the claimant.