A software development company based in the United Kingdom has applied to the high court so the betting firm, Cheza Gaming Ltd T/A HelaBet to be liquidated over a Sh55 million bad debt. Currently, Hela Bet has pulled down is paybill number from its webpage and has also removed their BCLB license from their website.
In court papers, Khubi Solutions Limited said Cheza Gaming Ltd has failed to honour payment for the design of the betting firm’s gaming platform since October 2021, even though the court had asked Hela Bet to pay the debt. The betting company has been mismanaged by its directors Barney Barrow and Edward Ndirangu who have been siphoning money out of the country.
Reliable sources also indicate that the company is on the radar of the Kenya Revenue Authority over unpaid tax dues. “The company is already dying. They have not been paying punters their winnings so betting with HelaBet is a big risk. You put in your money but when you win, you don’t get a pay out. “says court documents. It is further revealed that the directors have already fled Kenya.
In the first application by Khubi Solutions, Justice John Mativo, then a judge of the High Court, ruled in favour of Khubi Solutions and directed Cheza Gaming Ltd to pay the software developer $ 371,915 (Sh55,162,896.80 at current exchange rates) plus interest from March 30, 2017.
“Consequently, and from all the foregoing, it is apparent that the company is not in a position to meet its financial obligations and is therefore definitely insolvent,” Khubi Solutions says in the petition pending before the High Court.
The developer wants the official government liquidator to take over the management of the betting firm.
Evidence presented in court showed that the betting firm contracted the software development company to create a web-based betting platform in March 2016.