Brewer in court seeking closure of Nakumatt over debt

Gold Crown Beverages has filed a case seeking to wind up the Nakumatt Supermarket over Ksh 60 million debt it says has remained unpaid since January last year.

The petitioners 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 failed and neglected – 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 deemed 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 parties will appear before the court for mention on the September 17, 2017 to confirm if the orders have been complied with and to give further directions.