The Ruiru-based sacco says that the commissioner’s actions raise questions about regulatory independence and conflict of interest.
By
Sam Kiplagat
Court Reporter
Nation Media Group
The High Court has suspended a gazette notice by the Commissioner for Co-operative Development, which appointed three officials to liquidate the troubled Kenya Union of Savings and Credit Co-operatives (Kuscco).
Rupsa Sacco raises questions over the independence of the liquidation process.
Tribunal says that Kussco is obligated to honour its investment contract with Mhasibu Sacco despite its financial challenges.
For Kuscco, the process effectively marks the end of the organisation as it currently exists.
The court also barred the Commissioner from compelling the Sacco to adopt the delegate system until the case is heard.
A secretive Sh17.7 billion restructuring plan has put KUSCCO under fresh legal scrutiny days before the High Court is expected to…
The court held that the directors and the company had failed to demonstrate any violation of their constitutional rights and…
