The Kenya Commercial Bank (KCB) has taken over the operations of Cedarwood Hotels and Resorts Investments Company Limited, which is currently under receivership.
The move follows the appointment of Kamal Anantroy Bhatt of Anant Bhatt LLP as the Receiver and Manager of the company, trading as White Rhino Hotel. The appointment was made on December 5, 2025, by KCB Bank, which is seeking to manage the affairs of the troubled hotel group.
According to the notice issued by the Receiver, all the company’s assets and undertakings will now be under his control.
“Notice is hereby given that Kamal Anantroy Bhatt, of Anant Bhatt LLP, was appointed as Receiver & Manager (“The Receiver”) of CEDARWOOD HOTELS AND RESORTS INVESTMENTS COMPANY LIMITED (IN RECEIVERSHIP) (T/A White Rhino Hotel) (“the Company”) on 5th December 2025 by KCB Bank (Kenya) Limited (“the Bank”),” read the notice.
KCB Places Cedarwood Hotels Under Receivership
The purpose of this notice is to notify all interested stakeholders that, following the receiver’s appointment, the affairs and business of the company shall be directed by the receiver.
The notice further stated that the powers of the company’s directors to manage or dispose of assets have been suspended.
Any dealings with the company’s assets must be approved in writing by the receiver.
“Any person who purports to hold, receive, use, or attempts to buy or sell, contract, or otherwise deal with the assets of the Company or with the Company without the prior written consent of the Receiver will be acting in contravention of the law and will be liable to legal action,” added the notice.
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The directors of Cedarwood Hotels have been directed to submit a Statement of the Company’s Affairs within 12 days, in the prescribed format.
Further, the receiver will act on behalf of the company without any personal liability, and all claims, queries, or matters relating to the company are to be addressed directly to him.
All claims or inquiries relating to the company should be addressed to the Receiver at:
Kamal Anantroy Bhatt
Anant Bhatt LLP-1H Floor, City House, Nyerere Avenue, Mombasa
P.O. Box 80766-80100,
Telephone: 0726241555
Email: [email protected], Website: www.anantbhattlip.com
Genesis of Cedarwood Financial Struggles
Cedarwood Hotels has faced operational and financial challenges in recent years, leading KCB Bank to step in and secure the company’s assets and operations.
Cedarwood Hotels reportedly defaulted on a loan facility exceeding Kshs 670 million, inclusive of accrued interest. The company attributed its inability to make loan payments to the severe impact of the COVID-19 pandemic, which forced it to close its operations for several months in 2020.
In response, KCB Bank initiated legal steps to recover its funds by exercising its statutory power of sale over the charged property, the iconic White Rhino Hotel in Nyeri. The bank appointed auctioneers to sell the hotel to recover the outstanding debt.
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Cedarwood Hotels went to court multiple times to block the auction, contending that the property had been grossly undervalued according to the bank’s valuation reports.
Initially, the High Court granted temporary injunctions but eventually dismissed Cedarwood’s application to stop the sale.
The court ruled that claims of undervaluation did not automatically prevent a lender from exercising its power of sale and concluded that any potential loss could be compensated through damages.
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