Multiple Hauliers, owned by three Indians, Rajinder Singh Baryan, Amrik Singh Heer and Tarlochan Singh have had two administrators appointed as joint administrators.
Antony Makenzi Muthusi and Julius Mumo Ngonga of Ernst & Young LLP have been appointed as joint administrators of Multiple Hauliers (EA) Limited.
Multiple Hauliers which is one of the Africa’s largest privately owned logistics firms is facing multiple liquidation and auction cases amounting to over Ksh14 billion.
In a public statement, Multiple Hauliers stated that the powers of the directors in dealing with Company assets have ceased.
“The powers of the Administrators extend to all assets and undertakings of the company. By virtue of the Administration, the powers of the directors in terms of dealing with the Company assets have ceased,” Multiple Hauliers stated in a public statement.
While continuing with the statement, Multiple Hauliers stated that the administrators have total control over the business assets and management affairs of the Company with personal liability.
“The administrators have total control over the business affairs of the Company with personal liability,” Multiple Hauliers stated.
The administrators are expected to engage company’s key stakeholders to work on the future of the company.
Within the next 60 days, the administrators shall distribute statement of proposal to all the creditors whose claims and address are known to any member of the company.
One of the creditors leading in the liquidation case is Prime Bank which was owed ksh807 million.
The loans from Prime Bank were tied to two parcels of land in Nairobi and Mombasa.
Other creditors include; Galana Oil Kenya, Dry Associates, Laura Jean Sylvester among others.
To determine whether the process of the insolvency case will proceed, the company Is expected to submit a detailed financial report to Justice David Majanja in September 2021.
Multiple Hauliers was established formally in 1982 as family business.