The family of the former provincial commissioner Charles Karuga Koinange have agreed on how to share Sh13.5 billion of the late tycoon's Sh15 billion estate.
On October 14, 2019 before Justice Aggrey Muchelule, the parties agreed to have the matter referred to mediation. Reverend Geoffrey Njenga was appointed to conduct the mediation.
According to court documents, parties reached a partial agreement that settled 90 per cent of the dispute. That means they agreed on how they will share Sh13.5 billion of Koinange's estate.
Koinange died on February 20, 2004. He left a vast estate comprising plots in Ngorongo, Kiambu Muria Farm comprising 89 acres, plots in Kiambaa, Nairobi's Riverside Estate, Gigiri, Banana Hill, Mombasa, Thika among others.
His estate is said to be approximately worth Sh15 billion.
He was polygamous but his first wife (Grace) died, leaving behind six sons and four daughters. Her children are Wilfred Karuga, John Miringu, Paul Mbiyu, Leonard Kangethe, William Kihara and Ernest Ngugi.
She also left behind four daughters: Mary Wanjira, Marion Wambui, Isabella Wanjiku and Rosemary Gachiku.
In 1960, the deceased married his second wife, Mary Njoki, with whom they had a son and a daughter - Peter Mbiyu and Jaine Wambui. He had a total of 12 children who have been listed as beneficiaries of the estate.
In the agreement, the beneficiaries reached a consensus on the distribution of approximately 800 acres in Ngorongo, 200 acres in Kiambu, parcels in Banana Hill, 60 acres in Thika, property in Mombasa and shares in various companies.
The agreement also included sharing of cash in safe custody in different banks, the deceased's assets held in the unclaimed financial assets authority, motor vehicles and various shares in listed companies.
Only 10 per cent of the dispute remained unresolved from the mediation.
The assets that parties did not agree on include CKK Estate 1973, 50 acres of Ngorongo tea estate, 13,900 shares in Ngorongo tea factory and some shares in MECOL limited gifted to Isabella.
The matter will be mentioned on July 28 for directions as the family is still in discussions with a view to achieving mutual agreement on the outstanding issues.
