NAIROBI, Kenya, July 16 – A creditor from the Cytonn High Yield Solutions claims that there are unexplained gaps in the liquidation process of the 12.5 percent shareholding in Superior Homes.
In a letter directed to the official receiver, dated 14 July 2025, Edwin Dande, a creditor, claimed that the involvement of Deloitte Limited in carrying out the valuation of the shares lacks transparency and accountability, which undermines the credibility of the liquidation process.
“The credibility of the liquidation process depends on a transparent and credible valuation. Any appearance of bias undermines the confidence of creditors in the insolvency process,” Dande said.
The creditor has thus requested the company and the receiver to disclose the procurement process of the company and the production evaluation report that outlines the criteria used for awarding the tender and justification of the awards.
The creditor has further urged the receiver to provide measures taken to ensure the independence of the appointed valuer, in addition to the terms of reference for the valuation process of the company.
Dande claims that if the receiver does not submit the requested information within three days, he, together with other creditors, will be prompted to take the necessary legal action in a bid to safeguard the interests of all the creditors.
“I respectfully urge your office to urgently address the above request in the interest of promoting transparency, accountability, and fairness in the ongoing liquidation process,” he said.
“A transparent and impartial procurement process in the appointment of the valuer is integral to the credibility and integrity of the entire liquidation,” he added.
