T
Originally published by The Standardtop
August 28, 2026
3h ago
Court asked to halt secret Sh17.7bn KUSCCO plan to form new SACCO
A secretive Sh17.7 billion restructuring plan has put KUSCCO under fresh legal scrutiny days before the High Court is expected to rule on an insolvency petition threatening the SACCO union’s future...
✨ Key Highlights
RUPSA Regulated NWDT SACCO Society Limited, a creditor, has asked the High Court to stop a secretive Sh17.7 billion restructuring plan by KUSCCO that includes forming a new entity, KEFESCO Ltd, while an insolvency petition is pending.
- RUPSA is concerned the restructuring could affect members' rights and frustrate claims totaling over Sh6.1 billion.
- The proposed plan involves transferring KUSCCO's membership base to KEFESCO Ltd, which RUPSA argues would strip the current entity of assets needed for creditors.
- The court previously issued preservation orders on March 25, restraining KUSCCO from disposing of assets pending the insolvency proceedings.
Continue Reading
Read the complete article from The Standard
Advertisement
Advertisement