DREAM CAMP KENYA LIMITED V. MOHAMED ELTAFF, SAGA SAFARIS LIMITED, SAGA TRAVEL AND SAFARIS A B & TOUR AFRICA SAFARIS LIMITED

JUDGMENT OF THE COURT

1. In a shareholder dispute between the parties, the High Court (Kasanga Mulwa, J) in a judgment delivered on 28^th January 2000 determined that “the best way out of the existing situation...is that the 1^st [respondent] sells his shareholding of 10% to the other existing shareholders of the company at a fair market value to be determined by an arbitrator to be agreed by the parties and if not to be appointed by the court.”

2. Subsequently, in a ruling the subject of this appeal delivered on 11^th November 2011, the High Court (Mabeya, J) determined that the effective date, for purposes of the valuation of the 1^st respondent?s shareholding in the appellant is the date of valuation. Aggrieved, the appellant lodged this appeal.

Background

3. In a suit commenced before the High Court at Nairobi by a plaint dated 19^th April 1999, being HCCC No. 450 of 1999, the respondents averred that under an agreement for sale of business dated 19^th December 1997, the 2^nd respondent sold…