This archive report was first published on 25 June 2020.
On June 25, 2020, a High Court order requiring Keroche Breweries Limited to pay Kenya Revenue Authority (KRA) Ksh.500 million as a condition to stop the taxman from recovering Ksh.9.1 billion from the company was set aside.
The Court of Appeal, in a ruling delivered on Thursday, instead directed the company to deposit a sum of Ksh.100 million within 45 days.
The court considered the challenging economic circumstances caused by the COVID-19 pandemic when making its decision.
Additionally, the court lifted KRA's notice issued on Equity Bank Limited and Absa Bank of Kenya on March 11, 2020, as well as any other notice that may have been issued to any of the brewer's bankers and debtors.
