NAIROBI, Kenya, Jan 18 – Creditors of the collapsed ARM Cement will hold a virtual meeting to discuss liquidation process for last year.
In a letter to creditors, the liquidator said that the meeting will be held on January 31, 2023.
Section 413 (1) of the Insolvency Act 2015 of Kenya, provides that, if the liquidation of the Company continues for a period of twelve months or more, the liquidator shall convene a meeting of the creditors.
“In line with the above, notice is therefore hereby given that a Meeting of the Creditors of ARM Cement PLC (In Liquidation) will be held virtually on Tuesday, 31 January 2023 at 10.00 am. – 12.00 p.m. EAT,” Joint Liquidator George Weru said.
“The purpose of the meeting will be to lay before the meeting the account of the Liquidator’s acts and dealings, and of the conduct of the liquidation during the preceding year,” he added.
The cement maker was placed under administration in August 17, 2018, pursuant to Section 534 (1) of the Insolvency Act 2015 of Kenya (the Act).
Subsequently, it was placed under liquidation from October 1, 2021.
Creditors wishing to join the meeting will either participate through a USSD code or a link.
“Creditors entitled to attend the meeting are entitled to appoint a proxy to attend and ask questions on their behalf,” it said.
“If the appointer is a body corporate, the instrument appointing the proxy shall be given under its common seal or under the hand of an officer or duly authorized attorney of such body corporate.”
