Stanbic Bank Kenya, bondholders and private equity firm Aureos are among the biggest losers in the collapse of ARM Cement after the company’s liquidators said unsecured creditors are staring at a total loss of about $74.07 million (Sh9.6 billion) once they conclude their mandate.
ARM Cement was placed under administration in August 2018 after defaulting on its obligations, leading to the sale of its assets to compensate creditors.
