East African Cables administration halted
Equity Bank has been barred from assigning an administrator to East African Cables. The injunction is based on the fact that while the parties were in negotiations, Equity Bank went ahead to appoint an administrator. “I am glad that the brief setback that this unfortunate action had brought to the business is behind us and we can now focus on what we do best, providing quality cables to our customers across the region Said Dr. M. G Waweru on receiving the injunction. Just one day prior, sister firm TransCentury got a similar injunction after Equity Group announced Messrs. Muniu Thoithi and George Weru from PricewaterhouseCoopers…
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