KCB Bank has placed Cedarwood Hotels & Resorts Investments Company Limited, trading as White Rhino Hotel, under receivership and appointed Kamal Anantroy Bhatt as Receiver & Manager.
Following his appointment, the receiver has full authority over the company’s assets and operations, and any dealings without his written consent are considered illegal. Stakeholders are urged to direct all queries to the Receiver.
The notice released on Wednesday emphasizes that “following the receiver's appointment, the affairs and business of the company shall be directed by the Receiver.”
This move gives the Receiver full authority to manage the company’s assets and undertakings, effectively superseding the powers of the company’s directors.
The statement further clarifies that only the Receiver and his representatives are authorised to deal with assets of the Company.
Any individual attempting to use, buy, sell, contract, or otherwise engage with the company or its assets without the Receiver’s prior written consent would be acting in contravention of the law and will be liable to legal action.
Directors of Cedarwood Hotels & Resorts are required to submit a statement of the company’s affairs within 12 days in the prescribed format.
The receiver operates on behalf of the company and acts on behalf of the company without any personal liability.
Stakeholders, including creditors, suppliers, and other interested parties, are instructed to address all claims, queries, and matters relating to the company directly to the receiver.
Kamal Anantroy Bhatt, operating from Anant Bhatt LLP, 1st Floor City House, Nyerere Avenue, Mombasa, will oversee the company’s management.
The firm, which is a member of TAG Alliances, ranked third worldwide with over 280 member firms in more than 110 countries, will ensure professional handling of the company’s affairs.
Stakeholders can reach the receiver via email at [email protected] or through the firm’s website, www.anantbhattilp.com.
The notice highlights the legal framework governing the receivership. It notes that the powers previously held by the company’s directors in managing business operations and assets no longer apply.
This ensures that all operations of Cedarwood Hotels & Resorts are now centralized under the receiver, enabling structured management and accountability during the receivership period.
The appointment aims to stabilize the company and manage its financial obligations under the supervision of a legally recognized receiver.
It is part of the legal process under the Insolvency Act that allows a bank or creditor to protect its interests while ensuring that the company’s assets are handled responsibly.
By centralizing control under the receiver, KCB Bank ensures that the company’s operations continue in a regulated and accountable manner.
The notice explicitly warns that any unauthorized dealings with the company will be liable to legal action, signaling strict adherence to legal protocols to safeguard the company’s assets and stakeholders’ interests.
As the White Rhino Hotel transitions under receivership, all stakeholders, including staff, suppliers, and creditors, are advised to direct any communications or claims exclusively to Kamal Anantroy Bhatt, who will manage the company in line with legal and professional obligations.
The firm’s affiliation with TAG Alliances further assures that international best practices will guide the receivership process, providing oversight and professional management expertise.
KCB Bank’s intervention and appointment of a receiver & manager mark a significant step in addressing the company’s financial and operational challenges while ensuring that stakeholders are informed of the proper channels for engagement.
The structured receivership process is designed to maintain order, uphold legal compliance, and protect the company’s assets until a resolution is reached.
