This archive report was first published on 15 May 2020.
On May 15, 2020, Abraaj Kenya Advisers Limited, a Kenyan subsidiary of the global private equity firm The Abraaj Group, ceased operations following a unanimous vote by creditors to dissolve the company.
The dissolution process typically involves the company ceasing business activities, selling off its assets, paying off creditors, and distributing any remaining assets to partners or shareholders.
According to a notice, creditors with verified claims were required to submit their particulars to the joint liquidators, Muniu Thoiti and George Weru, by June 15, 2020.
Abraaj Kenya Managing Director Ashish Patel had previously stated that only creditors with verified claims would be allowed to vote on the dissolution process, while secured creditors would have to surrender their security or provide proof with clearly defined dates and estimated value.
Abraaj Kenya Advisers Limited was part of The Abraaj Group, a private equity firm operating in six continents.
Related articles:
