A legal dispute is set to begin at the High Court as the Capital Markets Authority (CMA) continues its legal feud with BOC Kenya Ltd, over the long running saga of the takeover of Carbacid Investment Ltd.
The takeover of the Kenyan carbon dioxide company, Carbacid, has rumbled on for around 2 years and has descended into what appears to be a feud between the CMA and BOC Kenya.
The Capital Markets Tribunal (CMT) has paid a Nairobi lawyer to write a report used to determine the long-running dispute, pitting BOC Kenya against the Capital Markets regulator, the CMA.
The CMA, which lost an appeal against BOC Kenya before the tribunal, has reportedly now claimed that the contracting of a third party to write a judgement is evidence of a lack of capacity by the tribunal to preside over matters for which it is constituted.
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