Kenya: Debt-Ridden Logistics Firm Multiple Hauliers Stares At Liquidation

kenya debt ridden logistics firm multiple hauliers stares at liquidation

Sumary of Kenya: Debt-Ridden Logistics Firm Multiple Hauliers Stares At Liquidation:

  • A second loan Multiple Hauliers took from Mauritius-registered private equity firm Barak Fund was used to repay some of the transporter’s local loans..
  • Barak Fund disbursed Sh4.8 billion to the transporter, which paid Sh447 million to Prime Bank, leaving a balance of over Sh360 million..
  • Multiple Hauliers sued the lender, arguing that the Mombasa land only secured Sh447 million in loans that were paid off from the Barak Fund financing….

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