Naivas in court to stop disposal of KCC assets pending recovery of Ksh.420M

Naivas Supermarket has moved to court seeking orders to restrain New Kenya Co-operative Creameries Limited (KCC) from disposing of its assets or moving funds in its bank accounts, citing fears that an impending restructuring could jeopardise recovery of a Ksh.420 million claim.

In an application filed through its lawyer, the supermarket is seeking preservation orders against KCC, including restrictions on the sale, transfer, charging, leasing or other disposal of the dairy processor’s factories, machinery, vehicles, equipment and other properties.

The application also seeks to restrain KCC, its agents and financial institutions from withdrawing, transferring or dissipating funds held in the company’s bank accounts pending the hearing and determination of the application and the subsequent arbitration proceedings.