Creditors File For The Liquidation Of Amaco Insurance

Seven creditors to AMACO Insurance, a company linked to the Deputy President William Ruto have filed for its liquidation.

In a notice published on December 27 Kenya Gazette, any creditor or contributory of AMACO has been asked to appear in court for the hearing set for January 30, 2020.

The proposal to liquidate the company was presented by Beth Kihara and six others. More details are yet to come on the surface as to why the seven want the company liquidated.

Some analysts feel it might be a ploy to avoid paying debts, camouflage then come out as a different company.

The company has been at the centre of some controversy concerning winning tenders from government agencies.

In a quick response, Amaco says the notice has been misunderstood to mean the company had filed for bankruptcy.

“We would like to assure our customers and the general public that we have not filed for bankruptcy proceedings contrary to an article circulating on social media. We have not been served with any notice or court or court proceedings on the same.” Said Amaco.