This archive report was first published on 10 July 2020.
Kenya Railways Corporation (KRC) and the Kenya Railways Staff Retirement Benefit Scheme (KRSRBS) have agreed to withdraw a court case that has been ongoing for over 10 years.
According to sources, the two parties signed consent documents on Wednesday at Railways Headquarters, paving the way for arbitration as an alternative method to solve the dispute.
"We are very happy today that we have signed these consent documents and by the course of the week we will be presenting them in court for approval," a source who attended the meeting said.
The dispute, which began in 2009, revolves around parcels of land in Makongeni Estate, Nairobi Railways Club, Kindaruma road, and Kenya Railways Golf Club.
As part of the agreement, Edermann Properties has withdrawn its claim of Sh 26 Billion, which it was awarded by the court in 2009 after KRC failed to meet its end of bargain for the property.
"We are very happy and we feel relieved after a protracted court battle which has lasted in court for many years. We are looking forward for more fruitful deliberations," said John Rajwayi, Head of Planning at Kenya Railways Corporation.
Published on July 10, 2020, at 3:01 PM, this development comes after the High Court stopped the auctioning of property worth billions of shillings belonging to the Kenya Railways Corporation (KRC) over a dispute with the real estate firm in 2012.
