Focus on Thursday court ruling over sale of troubled Karuturi

Business Daily | 1 May 2016

A worker in a flower farm. Karuturi was put under receivership in 2014 after it failed to meet its payments.

After close to three years and many court cases in Nairobi and Nakuru, the curtains appear to be coming down on one of the world’s biggest players in the cut flower industry — Karuturi Limited — after its owners conceded to an application to wind it up.
Receiver managers Muniu Thoiti and Kuria Muchiru from PricewaterhouseCoopers (PwC) have asked the High Court to lift an order barring the sale of Karuturi’s property after the flower firm’s owners failed to object to its winding up.

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