Petition filed seeking liquidation of Amaco insurance


Petition filed seeking liquidation of Amaco insurance

A petition seeking the liquidation of Africa Merchant Assurance Company (Amaco) will be heard at the High Court on January 30, 2020.

The case against Amaco, a firm associated with Deputy President William Ruto, was filed on November 7, 2019 by Ms. Beth Wairimu Kahara and six other petitioners.

In a Gazette notice dated December 16, B.W. Kamunge & Company, the law firm representing the petitioners, invited other claimants to join the petition.

“…Any creditor or contributory of the said company desirous to support or oppose the making of an order on the said petition may appear in person of by his advocate for that purpose,” the law firm said.

The Gazette notice, however, does not disclose why the petitioners want Amaco dissolved.

Meanwhile, Amaco Insurance has dismissed reports claiming that it has filed for bacrupcy.

“We would like to assure our customers & general public that we have not filed for bankruptcy proceedings contrary to an article circulating on social media. We’ve not been served with any notice or court proceedings on the same.We are addressing the same via the rightful channels,” said the firm in a tweet.

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Story By Benjamin Muriuki
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