NAIROBI, Kenya, Sept. 8 – The High Court has temporarily stopped the liquidation of the Kenya Union of Savings and Credit Co-operative Union Limited (KUSCCO), blocking liquidators appointed through a Gazette Notice from taking further action.
In a ruling, Lady Justice Rhoda Rutto said the appointed liquidators could not rely on the same act that purported to appoint them to exercise their powers.
The case was filed by RUPSA NWDT Sacco Society Limited, which challenged the liquidation of KUSCCO after losing Sh108.8 million following the union’s collapse.
Last week, Justice Rutto certified the matter as urgent and directed that the parties proceed with the case.
The case followed a Gazette Notice…