• Invesco Insurance Company has been sued for refusing to pay 9 million to ten claimants despite a court order.
• The ten now want the company liquidated under supervision of the official receiver and liquidator.
Invesco Insurance Company has been sued for refusing to pay 9 million to ten claimants despite a court order.
Principal Magistrate S.K Mutai had directed the insurer to pay Saleisio Kinyua Njagi, Gregory Mwaniki Karunga, Alisa Njeri, Jackleah Wangari , Nyaga Nthia, Alice Kageni ,Emmaculate Wanjiru, Juliet Muthoni, Venessa Kambi and Nancy Muthomi a total sum if Sh 9,007,570.50 plus costs and interests.
The ten now want the company liquidated under supervision of the official receiver and liquidator.
They are further seeking that the company's directors personally satisfy such liabilities of the companies as shall remain outstanding and owing after liquidation..
The ten were awarded the amount by the court after the judgement was entered against the insurance company on August 23 ,September 11 and March 26,2019 respectively.
"As at the date of this petition, it has failed and refused to pay or make a reasonable payments of the decretal sums since the date of the decree as well as the statutory notice dated April 2,2019", petitioners told the court through lawyer Mugendi.
They said Invesco has before issued them with cheques that it knew would not be honored and which were indeed not honored due to insufficient funds.
"Noting that the debt arose from the judgement entered by courts , I believe the company made or ought to have sufficient provision for payments to the petitioners," said the lawyer.
They believe the company's assets are capable of liquidating the decretal sum in full particularly as the same comprise amounts that were contracted for well in the knowledge that they would become due and payable within specified timelines.
They added that it was clear that the company is either unable to pay its debt to them or is not willing to do so. "It is in the circumstances fair and just that the company be would up to facilitate inter-alia liquidation of its assets to pay the petitioners debt.
They says despite several demands , including insolvency the statutory notice dated April 2, 2019 and received on April 9,2019 refused or neglected to pay the decretal sum.
Customers says the creditor does not hold any security in respect of the debt claimed by the demand that would be sufficient to satisfy the full debt or at all.