The High Court in Nairobi has halted proceedings in the insolvency dispute involving logistics firm Multiple Hauliers (EA) Ltd, ruling that a Court of Appeal stay order applies to both the company’s administration and liquidation cases after they were consolidated.
The decision blocks creditors pursuing liquidation over claims arising from a Sh532 million debt owed to asset financier Synergy Industrial Credit, until the appeal is determined.
The company’s broader insolvency dispute pits major secured lenders owed in excess of Sh16 billion –though the Official Receiver’s November 2024 report indicated that the total debts were in excess of Sh31.4 billion, while the total assets of the company were Sh17 billion.
The…