With an auctioneer stepping in to reclaim Ksh4.1 million owed to a former Coast politician with deep ties to President William Ruto, Standard Media Group’s problems have gotten worse.
Notably, the businessman was awarded Ksh4.1 million in damages after he prevailed in a defamation lawsuit against the media company; however, the Mombasa Road-based establishment has since fallen behind on its payments.
The Standard Media Group had revealed in one of its articles that the former lawmaker had been stopped from selling his parents’ house.
The former politician’s niece allegedly accused her uncle of forging her grandmother’s signature to approve the property’s sale, according to the Standard story.
The auctioneering organization states that in order to recoup the outstanding sum, it plans to sell off various things owned by the media outlet, such as wooden cabinets, office chairs, and six cars.
The High Court ordered the auctioneering company to sell the media house’s property after providing the Standard Group with a 15-day notice on November 6, 2023.
Prior to this, Standard Group had acknowledged publishing a piece that was defamatory and offered an apology to the former legislator.
The former lawmaker nevertheless proceeded to sue the media conglomerate.
The Kenya Union of Journalists (KUJ) has revealed that scribes at the Mombasa Road-based house have not received a salary for more than six months, indicating that Standard Group is currently experiencing financial difficulties.
As a way to solve its financial issues, the company recently offered long-serving staff members who received large salary packages the chance to retire early in exchange for golden handshakes.