Multiple Hauliers Challenges NCBA Bank’s Appointment of PwC Administrators Over KSh14 Billion Debt Dispute

Multiple Hauliers (E.A.) Ltd has challenged NCBA Bank Kenya PLC’s appointment of joint administrators from PricewaterhouseCoopers (PwC), arguing that the lender did not have the legal authority to make the appointments without a court order.

The transport and logistics company has filed an application before the High Court contesting the appointment of Muniu Thoithi and George Weru as joint administrators, which was announced by NCBA Bank on July 27, 2026.

Multiple Hauliers argues that NCBA Bank is not a holder of a qualifying floating charge as defined under Section 534 of Kenya’s Insolvency Act and therefore cannot unilaterally appoint administrators over the company.

In a notice issued by the company, Multiple Hauliers said it objects to what it termed an “illegal appointment” of Thoithi and Weru and has demanded that the administrators cease acting in that capacity pending determination of the court application.

The company has also issued cease-and-desist notices to the appointed administrators and PricewaterhouseCoopers Limited, warning that it will hold them liable for any losses, damages or injuries arising from their actions.

Multiple Hauliers Warns Stakeholders Against Engaging Administrators

Multiple Hauliers has advised its customers, bankers, suppliers and other stakeholders not to engage with the appointed administrators while the dispute remains before the court.

The company said stakeholders should not share information relating to its business dealings and transactions with the administrators, stating that their appointment is subject to the outcome of the pending High Court proceedings.

“The company hereby gives NOTICE to all its customers, bankers, suppliers and stakeholders NOT to deal in any manner with the illegally appointed administrators,” the company said in the statement.

NCBA Bank appointed Thoithi and Weru as joint administrators to assess the future of Multiple Hauliers, including whether the company can continue operating as a going concern, develop a debt restructuring strategy, or move toward liquidation.

KSh14 Billion Debt Crisis Behind Administration Dispute

The administration dispute comes amid a long-running financial crisis involving billions of shillings in outstanding obligations owed by Multiple Hauliers to institutional lenders.

The company has accumulated more than KSh14 billion in defaulted debt involving several banks, including NCBA Bank Kenya, KCB Bank Kenya, Co-operative Bank of Kenya and I&M Bank.

NCBA Bank’s specific claim against Multiple Hauliers stands at KSh7.25 billion.

The debt challenges have triggered several legal and restructuring processes as lenders and the company have sought solutions to address the financial distress.

Arbitration Over KSh88 Billion Claim

Multiple Hauliers and NCBA Bank are also involved in a parallel arbitration dispute before the London Court of International Arbitration involving an Sh88 billion claim linked to a 2017 loan facility.

Multiple Hauliers has alleged that NCBA Bank contributed to its financial difficulties by failing to disburse the full amount of credit under the facility.

The lender has disputed the company’s position, with the matter continuing through the arbitration process.

Previous Rescue Attempts Faced Setbacks

The company’s financial restructuring efforts have previously faced challenges, including a proposed $8.5 million transaction involving South Africa’s Amava Consortium.

Other rescue efforts, including a court-ordered administration process through the Official Receiver, were affected by creditor objections and ongoing litigation.