Category: voluntary
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Surge in voluntary liquidations sparks abuse of process concerns
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The sharp increase in creditor voluntary liquidations has raised concerns about the potential for abuse of the process, which allows companies to get rid of their debts with minimal scrutiny. CVLs, where a company’s shareholders agree to wind up a business due to insolvency, have reached record levels, making them…
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KCB sheds 362 jobs in voluntary early exit
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KCB Group saw 362 of its employees accept the voluntary early retirement offer last year after the bank opened the programme at the request of its employees. Most of the voluntary exits were in the Kenyan operations, where 211 employees accepted the offer, including 100 employees at the bank’s subsidiary…