[2023] KECPT 1035 (KLR)

[2023] KECPT 1035 (KLR)

The Tribunal found that the Claimant was a member of the Respondent Sacco and had withdrawn her membership. The Respondent did not dispute the membership or the amount owed but relied on an AGM resolution suspending refunds due to liquidity challenges. The Tribunal held that such internal resolutions cannot override...

Source-derived case information.

Citation
[2023] KECPT 1035 (KLR)
Parties
Applicant: Gisiri Mokami; Respondent: Metropolitan National Sacco Society Limited
Court
Cooperative Tribunal
Jurisdiction
Kenya
Case Number
Tribunal Case E704 of 2022
Procedural Posture
Civil Claim / Judgment
Outcome
judgment for the claimant
Judges
BM Kimemia, J. Mwatsama, B Sawe, F Lotuiya, P. Gichuki, PO Aol
Legal Topics
Sacco Member Refund, Share Capital Repayment, Liquidity Challenges, Costs and Interest
Source Language
en
Civil Procedure Commercial and Corporate Sacco Member Refund Share Capital Repayment Liquidity Challenges Costs and Interest

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Parties

Gisiri Mokami

Applicant

Metropolitan National Sacco Society Limited

Respondent

Procedural Posture

Civil Claim / Judgment

  1. 1 Whether the Claimant is entitled to a refund of Kshs. 290,133.82 from the Respondent Sacco.
  2. 2 Whether the Respondent's AGM resolution to suspend refunds due to liquidity challenges is a valid defense against the Claimant's claim.
  3. 3 Whether the Claimant is entitled to costs and interest on the refunded amount.

Ratio Decidendi

The Tribunal found that the Claimant was a member of the Respondent Sacco and had withdrawn her membership. The Respondent did not dispute the membership or the amount owed but relied on an AGM resolution suspending refunds due to liquidity challenges. The Tribunal held that such internal resolutions cannot override the statutory right of a member to a refund upon withdrawal. The evidence showed that the Claimant was owed Kshs. 290,133.82 as of 21st November 2023. The Tribunal therefore entered judgment in favour of the Claimant for the outstanding amount, together with costs and interest, and granted a 30-day stay of execution as requested by the Respondent and not opposed by the Claimant.

Court Disposition

judgment for the claimant

Orders

  • Judgment entered in favour of the Claimant for Kshs. 290,133.82 against the Respondent.
  • The Respondent shall pay costs and interest on the awarded sum.