Kenya: A court has ruled in favour of Absa Bank Kenya and Kenya Commercial Bank's right to appoint an administrator for Savannah Cement. The banks are seeking to recover US$72.9m owed by the producer. The Star newspaper has reported that a previous court ruling in December 2022 prevented the lenders from appointing an administrator or seizing assets.
Savannah Cement to be placed under receivership
URL: https://www.globalcement.com/news/item/15736-savannah-cement-to-be-placed-under-receivership
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