Big win for Rwandan Fintech firm Stayonline as judge extends freeze orders and directs expeditious hearing for 3days.

Rwandan Fintech firm Stayonline has yet again won big in the ownership dispute case after the court extended freeze orders on the Sh 400 M.

Justice Alfred Mabeya on Wednesday extended the freeze orders he granted and further ordered expeditious hearing of the case in December for three days.

Justice Mabeya further consolidated three files into one and said the matter will be heard as one.

Desire Muhinyuza, StayOnline Rwanda and Ambrose Wamari will be the applicants while Kirimi Koome and Registrar of Societies will be respondents.

Justice Mabeya said it was prudent for the matter to be heard expeditiously so that the money frozen can be released for circulation into the Kenyan economy.

“Such monies while frozen add no value to the economy, the faster the money is released to the economy for circulation the better” the court said.

In the case, Koome who has since been charged with fraud has laid claim to the company saying he is the owner of StayOnline.

However, Desire has told court that he is the real owner of StayOnline and Koome only helped him register the company but has since refused to hand over ownership back to him.

An Estonian firm SMTM has since also come out to claim the money saying they are the owners of the money through StayOnline who are their business partners.

The money belongs to what they term as merchants and StayOnline only gets a percentage of the commission.

Koome wants to withdraw all the money deposited in the company accounts at UBA bank into his personal account.

The case will be heard in open court on December 18.

CH Reporter

CH Reporter

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