Nakumatt taken to court over debt,petitioner wants giant stores closed

Nakumatt taken to court over debt,petitioner wants giant stores closed

BY NAMULONGO PETER,NAIROBI,25TH JULY 2017-Nakumatt Supermarket  has been sued over Ksh 60 million debt  that the petitioner claimed it has remained unpaid since January last year.

The petitioners Gold Crown Beverages  filed a case  on Tuesday 25th July seeking closure of the giant stores to  wind up .They  claim that Nakumatt has committed various bankruptcy offences within the last two years before the filing of the petition.

“The debt amount owed to the petitioner by Nakumatt is within the prescribed insolvency level in accordance with the Insolvency Act, 2015,” reads the court documents.

The tea brewer company now wants Nakumatt liquidated by the court under the provisions of the Insolvency Act 2015.

Further, it wants the court to appoint a receiver who is an authorized insolvency practitioner as the provisional liquidator.

They argue that they have made repeated requests to the company for the payment or part payment of the debt but Nakumatt has refused to pay the debt amount.

In affidavit by Gold Crown Beverages Senior Manager Finance and Accounts, David Karanja, the court was told that it is only fair that the court grants them a Liquidation order for the liquidation of Nakumatt.

Gold Crown Beverages claim that on 2nd June this month they wrote a demand letter which Nakumaat failed to comply with the demand for the payment of the debt.

It is therefore  concluded that the company is unable or has no reasonable prospects to pay its debts and the debt amount owed to the petitioner,” states Daniel Karanja.

High Court Deputy Registrar, Elizabeth Chepkoich Tanui, directed Gold Crown to advertise its petition to the public before the liquidation proceedings can continue.

The  case will be mention on 17th September, 2017  before both parties to verify compliance with  orders and  for  further  instructions.

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