A software development company based in the United Kingdom wants betting firm, Cheza Gaming to be liquidated over a Sh55 million bad debt.
Khubi Solutions Limited said Cheza Gaming had failed to honour payment for the design of the betting firm's gaming platform since October 2021.
Justice John Mativo, then a judge of the High Court, ruled in favour of Khubi Solutions and directed Cheza Gaming to pay the software developer $ 371,915(Sh55,162,896.80 at current exchange rates) plus interest from March 30, 2017.
“Consequently, and from all the foregoing, it is apparent that the company is not in a position to meet its financial obligations and is therefore definitely insolvent,” Khubi Solutions says in the petition pending before the High Court.
The developer wants the official government liquidator to take over the management of the betting firm.
Evidence presented in court showed that the betting firm contracted the software development company to create a web-based betting platform in March 2016.
The firm’s director, Paresh Shah, informed the court that other than the platform, his company would have, at the request of the betting firm, rendered extra services over and above what they agreed at extra cost.