Kenya: State Names 25 Receiver Managers to Oversee Debt Recoveries

30 January 2024
Capital FM (Nairobi)

Nairobi — The government has named 25 new receiver managers who will manage bankrupt firms.

They include Ponangipalli Ramana Rao, the former administrator of Mumias Sugar Company; Kereto Marina, a corporate insolvency and restructuring practitioner; and Long'et Terer, a lawyer.

Others are Kamal Anantroy, Anthony Muniu, Anthony Makhezi, Kolluri Venkata, Julius Ngumbao, George Muriithi, Owen Koimburi, Orlando Mario, Julius Mimi, and Tom Mungai.

The list also includes Sanal Tejpar, Joy Vipinchandra, Moyalapalli Mahalakshmi, Madhau Sudhir, Vruti Shantilal, Joyce Nyawira, Swaroop Rao, Philip Ibrahim, Mohammed Ahmed, Dhir Kamal, Christopher Pharis, and Robert Baraka.

According to the Insolvency Act of 2015, a firm can be declared insolvent if it is not able to pay debts of over Sh100,000 after 21 days of a written warning.

Read the original article on Capital FM.

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