Old Mutual General Insurance Kenya Limited is currently under threat of a liquidation suit.
The suit is due to a claim of $3 million (Sh481.5 million) from Tropic Air Limited, a private air charter company. The claim is related to an accident involving one of Tropic Air Limited’s helicopters in 2022.
Tropic Air Limited, which operates a fleet of Cessna aircraft and helicopters, has given Old Mutual a 21-day notice to settle the claim.
The claim is intended to compensate third parties that were affected by the accident. If Old Mutual fails to pay within the stipulated time, it risks liquidation.
Tropic Air Limited, based in Nanyuki, issued a notice to Old Mutual on January 10. The notice states, “Failure to pay the afore-stated amount shall result in Tropic Air Limited filing for a liquidation order against your company.”
A statutory demand has been served by Tropic Air Limited (TAL) on Old Mutual Insurance Kenya Limited for payment of USD 3M.
This is due to a claim arising from an insurance policy. A failure to pay within 21 days may lead to liquidation proceedings by TAL. pic.twitter.com/zhHfXzJvOn
— Mwango Capital (@MwangoCapital) January 16, 2024
