- Rupsa Sacco challenges KUSCCO liquidators
- Sacco wants an independent insolvency practitioner
- Court case adds pressure to KUSCCO restructuring
Ruiru-based Rupsa Sacco has moved to the High Court to block three liquidators appointed by the Commissioner for Co-operative Development.
The liquidators were appointed for the Kenya Union of Savings and Credit Co-operatives (KUSCCO), the cooperative sector’s umbrella body currently under restructuring. Rupsa Sacco wants an independent insolvency practitioner appointed instead.
The Sacco argues the State-picked liquidators could affect existing court orders preserving KUSCCO’s assets. It has also raised concerns over the independence of the liquidation process.
The case adds a fresh twist to the ongoing restructuring and liquidation of the cooperative sector’s umbrella body.
By our reporter
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