Menu
Home
Forums
New posts
Search forums
What's new
Featured content
New posts
New media
New media comments
New resources
Latest activity
Media
New media
New comments
Search media
Resources
Latest reviews
Search resources
Misc
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Labrish
Nyuuz
Court halts changes at Directline Assurance amid probe
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Munyaradzi Mafaro, post: 67577, member: 636"] A Kenyan judge has frozen all ownership and leadership adjustments at Directline Assurance Company Limited while the court examines whether government regulators overstepped their authority in probing the firm's internal operations. Justice Lawrence Mugambi issued the preservation order on Tuesday, preventing the Business Registration Service from modifying corporate records until legal proceedings conclude. The majority of stakeholders, Sureinvest Company Limited and Triad Networks Limited, argue that the Attorney General violated statutory procedures by launching an inquiry under the Companies Act without first obtaining judicial approval. They claim the investigation responded to grievances from minority investors, Dr Samuel Kamau Macharia and Royal Credit Limited, concerning ownership transfers and board appointments dating back two decades. The petitioners maintain that an arbitration ruling from May 2022 already resolved these matters and assert that regulators excluded them from the inquiry despite requests for participation. The dispute has generated multiple court filings as various parties seek protective measures or dismissal of the case. Proceedings resume on March 11, 2026. The insurer's market position has weakened from nearly 48 percent in 2024 to roughly 38 percent this year, raising industry concerns about potential disruption to public transportation coverage. [/QUOTE]
Insert quotes…
Name
Post reply
Home
Forums
Labrish
Nyuuz
Court halts changes at Directline Assurance amid probe
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top