This archive report was first published on 9 September 2019.
Metropol East Africa Limited, a Credit Reference Bureau, is facing a winding-up petition over a Sh3.9 million debt owed to Standard Group. The debt dates back to 2015 when Metropol East Africa Limited advertised on Standard Group's print and broadcast platforms for which it would pay Sh3,974,080.
Despite several demand letters from Standard Group's lawyers, Metropol East Africa Limited has failed to settle the amount. In a demand letter dated April 11, 2019, TripleOKLaw Advocates gave Metropol East Africa Limited seven days to honour its end of the bargain, which it failed to do.
Metropol East Africa Limited received a further demand sent by Mckay Advocates on behalf of Standard Group on June 11, 2019. In response, Metropol East Africa Limited stated that a settlement and mode of payment to offset the debt had been agreed upon with TripleOKLaw Advocates and requested clarification on which advocate was handling the matter.
However, Mckay Advocates explained that it had taken over the matter from TripleOKLaw Advocates and would proceed with the winding-up petition on August 7, 2019, should there be no payment received by Standard Group. Metropol East Africa Limited was served with a twenty-one-day winding up notice received on July 8, 2019.
The notice read in part: 'Take notice that if such amount is not paid or secured or compounded for to the reasonable satisfaction of my client, you will be deemed insolvent and unable to settle your debts.' If unable to settle the debt within the twenty-one days, a bankruptcy application shall be filed against Metropol East Africa Limited.
