NCPB in KES 500m debt
10 June 2013, 16:10
Nairobi - The debt row pitting the National Cereals and Produce Board ( NCPB) and a supplier took a new twist after the latter sought to auction the corporations Silos and land.
In an application filed at the commercial court, The Standard reports that Erad Supplies and General Contractors Limited is seeking to sell over 26 grain storage facilities in Nairobi, Nakuru, Kisumu, Eldoret and Moi’s Bridge over a KES 500 million breach of contract debt.
Initially Erad, had been granted a decree allowing it to sell moveable assets of the state corporation to recover their money but are now seeking to sell immovable assets, after freezing their accounts and selling their vehicles and furniture at a public auction.
- For more visit The Standard
Join in the conversation on our Facebook page. Also get the latest news by following us on Twitter.