Imperial Bank Limited (in liquidation) has placed Sparetech Trading Company Limited and Mawa Dairy Farm Limited under receivership, effective April 17 and April 20, 2026, respectively.
The bank has appointed Kamal Anantroy Bhatt of Anant Bhatt LLP as Receiver and Manager to take over the affairs, business, and assets of the two companies as it continues to recover assets linked to the collapsed lender.
The appointments were announced through separate public notices issued under the Insolvency Act, No. 18 of 2015.
“Notice is hereby given that Kamal Anantroy Bhatt, of Anant Bhatt LLP, was appointed as the Receiver and Manager (“the Receiver”) of Sparetech Trading Company Limited (“the Company”) on 17th April 2026 by Imperial Bank Limited (In Liquidation) (“the Bank”),” reads one of the notices.
Under the appointments, Bhatt assumes control of the companies’ business, affairs and assets on behalf of Imperial Bank Limited (in liquidation), which is under the management of the Kenya Deposit Insurance Corporation (KDIC).
Creditors of the two companies have been given 30 days to lodge their claims with the Receiver and Manager.
“Following the Receiver’s appointment, the affairs and business of the Company shall be directed by the Receiver. The powers of the Receiver extend to all assets and undertakings of the Company,” the notices state.
The notices further direct the companies’ directors to submit a Statement of Affairs within 12 days of the appointments.
The document is expected to outline the companies’ assets, liabilities, creditors and financial position as required under the Insolvency Act.
Also Read: Mary Wambui’s 5-Star Hotel Placed Under Administration: Here’s Why
Receiver Assumes Control as Creditors Given 30 Days
The Receiver has also taken exclusive control of the companies’ assets and operations.
“Only the Receiver and his representatives are authorized to deal with assets of the Company. Creditors are invited to lodge their claims with the Receiver within the next 30 days,” the notices add.
The public notices warn that no person may receive, acquire, transfer, lease, dispose of or otherwise deal with the companies’ assets without the Receiver’s prior written consent.
They further state that the Receiver will act in his official capacity and will not incur personal liability for obligations arising from the management of the companies during the receivership.
Also Read: Nafas World Auto Placed Under Receivership as Imperial Bank Appoints Manager
Under Kenya’s Insolvency Act, a secured creditor may appoint a receiver to take control of a company’s assets and operations to recover outstanding debt.
Receivership is a legal process in which a court appoints a receiver to manage a company’s assets and operations, usually to ensure stability and recover value for creditors during financial distress.
It allows creditors to recover funds and assists companies in restructuring to avoid bankruptcy.
Collapse of Imperial Bank
Imperial Bank’s collapse remains one of Kenya’s biggest banking failures.
The Central Bank of Kenya placed Imperial Bank under receivership in October 2015 following the discovery of irregular transactions involving senior bank officials.
Investigations that followed uncovered unauthorized lending and undisclosed liabilities, exposing a multibillion-shilling hole in the lender’s books.
After nearly six years under receivership, the Central Bank approved the bank’s liquidation in 2021, bringing to an end attempts to rescue the lender.
The Kenya Deposit Insurance Corporation (KDIC) was appointed as liquidator and has since been pursuing the recovery of the bank’s assets to facilitate payments to depositors and other creditors.
Follow our WhatsApp Channel and X Account for real-time news updates.
