Parliament Declares TUK University Insolvent On Ksh12B Debts

The Technical University of Kenya (TUK) has been declared insolvent by Parliament amid a deepening financial crisis marked by a Ksh12 billion debt and persistent salary delays for staff. The crisis has largely been blamed on a bloated workforce that exceeds the institution’s operational capacity, with payroll consuming Ksh270 million monthly. Additionally, TUK has failed…

Chch construction company goes under

Christchurch residential construction company Select Building has gone into liquidation with a total estimated shortfall to creditors of $329,500. That includes about $200,000 owed to Inland Revenue (IRD), which has started legal recovery action, while $10,000 in staff wages and holiday pay is in arrears. Select Building’s demise follows a long line of building firms…