Heineken posts $1.9 million bank guarantee to freeze interest owed to Kenyan tycoon Ngugi Kiuna
The Dutch brewer secured a $1.9 million Equity Bank guarantee, halting disputed interest on the $11.3 million award owed to Ngugi Kiuna's Maxam.
Maxam
Dutch giant Heineken to pay $13.1 million to Kenyan tycoon Ngugi Kiuna’s firm
This follows the Court of Appeal’s ruling that upheld a High Court order for Heineken to compensate Maxam for the unlawful termination of their distribution contract in Kenya.