NCBA Bank Kenya has taken fresh control of logistics firm Multiple Hauliers (EA) Ltd, opening a new phase in the insolvency dispute over Sh7.2 billion owed to the lender. The debt to NCBA is part of Sh31 billion claims against the logistics firm by various lenders and creditors.
The lender said that Muniu Thoithi and George Weru of PricewaterhouseCoopers Limited (PWC) have been appointed joint administrators of Multiple Hauliers.
“The primary objective of administration proceedings under the Insolvency Act is to allow the Administrators, licensed insolvency practitioners, to explore ways of rescuing the company either as a going concern where feasible or achieving a better outcome for the creditors of the company than would…