A Ruiru-based sacco wants the High Court to block the three liquidators appointed by the Commissioner for Co-operative Development to liquidate the Kenya Union of Savings and Credit Co-operatives (Kuscco) and instead appoint an independent insolvency practitioner.
Rupsa Sacco, which is owed Sh108.8 million by Kuscco, says the appointment of the State-picked team threatens existing court orders preserving the entity’s assets. The sacco also raises questions over the independence of the liquidation process.
