Rupsa seeks insolvency process for KUSCCO over Sh17.7bn liabilities
The petitioner urged the court to dismiss KUSCCO's preliminary objection, saying the case raises factual and legal issues that require a full hearing...
✨ Key Highlights
RUPSA Sacco has asked the High Court to place KUSCCO under insolvency proceedings, citing the cooperative's substantial liabilities and audit findings.
- KUSCCO faces liabilities of Sh17.7 billion against assets of Sh5.2 billion, indicating a deficit of approximately Sh12.5 billion.
- The petitioner, RUPSA Sacco, is arguing for the applicability of the Insolvency Act to KUSCCO.
- The dispute hinges on whether KUSCCO, registered as a cooperative society, can be subjected to insolvency proceedings, with the court to decide on jurisdiction.
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Court clears Safaricom stake sale to Vodacom - June 2026
The Court of Appeal has cleared the way for the Kenyan government's planned sale of a 15 percent stake in Safaricom to South Africa's Vodacom, lifting previous conservatory orders that had suspended the transaction. Meanwhile, RUPSA Sacco has asked the High Court to place KUSCCO under insolvency proceedings, citing the cooperative's substantial liabilities of Sh17.7 billion and audit findings. In a separate development, the Policyholders Compensation Fund has disbursed Sh390.8 million in insurance claims to policyholders and claimants affected by the collapse of several insurance companies.
