Companies Reprieve for stalled city complex developer facing insolvency suitJustice David Majanja. Justice David Majanja gave North Eastern Investment until next week to negotiate with East African Development Engineering & Trading to settle the dispute. The investment company went to court, arguing the contractor had threatened to institute insolvency proceedings against it after failing to pay a debt of Sh7 million. advertisementThe investment company later told the contractor to continue with the project but on new terms, a proposal that was rejected. The parties later agreed to terminate the contract in April 2017 and the company agreed to refund the contractor Sh22 million.

Source: The North Africa Journal January 29, 2020 18:56 UTC