Distress & Recovery Services

Kenyan banks KCB, Diamond Trust, Standard Chartered and Bank of Africa sought Adili’s restructuring and insolvency advisory services, in response to the collapse of their debtor Nakumatt. Nakumatt was at one time East Africa’s biggest retail chain valued at USD 407 million. Our experts stepped in to advise the banks on their recovery options just two years after the implementation of Kenya’s insolvency law. Our services included advising on the various restructuring and turnaround options available and the likely success of business recovery, the enforceability of the securities held by the senior lenders, receivership, company voluntary arrangements, schemes of arrangement, administration and liquidation options, and negotiating and advising on moratoriums and stand still arrangements/agreements. This was a high-profile insolvency, as it affected other East African countries and it allowed us to fully engage the new insolvency law in providing advice on potentially precedence-setting issues.