Milling Corporation owed Sh274.95 million, Premier Flour Mills Sh192.25 million and Maize Milling Sh48.95 million. But Justice Tuiyott held that the official receiver had accepted Cargill’s nomination of Mr Muthusi, and that Mr Lalji did not contest the arrangement. DISCLOSUREHe also asked Justice Tuiyott to consider that his three firms had repaid Sh34 million since the insolvency petition was filed. But Cargill insisted that the Sh30 million was too little, since Mr Lalji had promised to pay Sh100 million. Justice Tuiyott ruled that there was no evidence to verify the value of the land Mr Lalji pledged as security.

Source: Daily Nation March 24, 2019 18:56 UTC