The Petition before the court is dated 26th May 2020. It has been brought by Seyani Brothers and Company (K) Limited. It seeks liquidation of the Company on the ground of inability to pay the debt. The debt is based a decree issued in favour of the Petitioner by this court in ML HCCC No. 253 of 2017, Seyani Brothers and Company Limited and Others v Green Square Limited. The amount outstanding as at the date of this petition under the decree dated 01.11.2019 is KES. 19,966,214.00 which has not been paid.
The Petitioner issued and served demand notices on 9th January 2020 and 12th May 2020 and since service thereof the debt has not been settled. The Company is therefore unable to pay to its debts in terms of section 384 of the Insolvency Act. The Company has not opposed the petition despite service of the same. I am satisfied that the Petitioner has satisfied the the conditions for liquidation under section 484(1) of the Insolvency Act as it is unable to pay its debt despite service of the notice. Consequently, I now make the following orders:
(a) An Interim Liquidation Order be and is hereby issued in respect of the Company, Green Square Limited;
(b) That the Official Receiver be and is hereby appointed as the Interim Liquidator of Green Square Limited;
(c) Cost of the petition shall be borne out of the Company assets.
DATED and DELIVERED at NAIROBI this 27th day of AUGUST 2021
D. S. MAJANJA
JUDGE