Zakhem Seeks to Liquidate Oilfields in KPC Pipeline Dispute – The Kenyan Wall Street

Liquidation

Zakhem International Construction Limited, a Lebanese-owned contractor behind Kenya Pipeline Company’s Mombasa–Nairobi multiproduct pipeline, has petitioned the High Court to liquidate its subcontractor Oilfields Engineering and Supplies Limited. The petition is the latest in a years-long commercial dispute linked to the US$491 million (KSh 63.46 billion) Line 5 pipeline project. Oilfields, a local engineering firm,…

NCLAT Upholds CIRP [Read Order]

Liquidation

The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) at New Delhi recently upheld the initiation of the Corporate Insolvency Resolution Process (CIRP) against a corporate debtor (CD), noting that the CD failed to prove any pre-existing dispute regarding an outstanding ₹8.48 lakh operational debt that was claimed by the operational creditor. The…

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Liquidation

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Liquidation

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Liquidation

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