Two co-operative societies, Kenton Kijabe Hill Co-operative Society Limited and Nitunze Sacco Society Limited, have been placed under liquidation, with creditors given 60 days to submit outstanding claims.
The Commissioner for Co-operative Development appointed certified public accountant Benedict Abonyo Omollo as liquidator for both societiesCreditors who fail to submit their claims within the stipulated period risk being excluded from distributions made before their claims are verified.
The liquidator has also directed anyone holding the societies’ property, books, records or other documents to surrender them to his office.
The liquidation period for each society is set at no more than one year, although the time taken to complete the process will depend on the verification of claims, identification of assets and settlement of outstanding obligations.
