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[QUOTE="Queen, post: 87278, member: 27"]
A Sh225 million property gamble tied to 88 Nairobi just blew up in court, with an American investor accusing the developer of engineering a default to grab his cash.

Sh225 million dispute over 88 Nairobi
[LIST]
[*]88 Nairobi is facing a lawsuit at the Milimani Environment and Land Court.
[*]American investor KYH claims losses exceeding Sh161 million.
[*]Eighty-Eight Nairobi Limited is accused of mishandling a ten-unit deal.
[*]The Upper Hill project was marketed as Africa’s tallest residential skyscraper.
[/LIST]
Payment clash and cancellation threat
[LIST]
[*]KYH signed the agreement in March 2024 for premium apartments.
[*]By October 2024, he had wired about $1.25 million.
[*]The developer later demanded an extra $250,000 within three days.
[*]That short deadline allegedly came with a cancellation warning.
[/LIST]
Alleged communication games and defaults
[LIST]
[*]The investor says notices bypassed his Kenyan legal representatives.
[*]Critical emails reportedly reached him while he was traveling.
[*]KYH argues the move was meant to trigger a technical default.
[*]The suit also names Jonathan Jackson and the Lordship Group.
[/LIST]
Forfeiture clause and wider impact
[LIST]
[*]Contract allows up to 50 percent retention on buyer default.
[*]Roughly Sh113 million could be kept under that clause.
[*]Refunds, per agreement, would only follow resale without interest.
[*]KYH wants the other 88 Nairobi buyers allowed into the case.
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