
The High Court in Kenya has temporarily halted the liquidation of the Kenya Union of Savings and Credit Co-operatives (KUSCCO), dealing a legal setback to plans to wind up the troubled cooperative. According to Business Today, the order prevents liquidators appointed by the Commissioner for Co-operative Development from taking control of KUSCCO's assets and records for now. The ruling pauses the dissolution process pending further legal proceedings, leaving the fate of the troubled cooperative unresolved.
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The High Court has halted the liquidation of the Kenya Union of Savings and Credit Co-operatives (KUSCCO) following a legal challenge. The case was filed by RUPSA NWDT Sacco Society Limited, which said it lost Sh108.8 million after the union's collapse. According to Capital FM Business, the court's decision comes amid opposition to the liquidation process, temporarily stopping proceedings while the dispute is considered.
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