NAIROBI, Kenya, Aug 11 – Shelter Afrique has appointed a receiver for Chiedo Developers Limited, the company behind the Lake Breeze Apartments in Kisumu, after the developer defaulted on a loan.
A Gazette notice shows that Christopher Kirathe of Ernst & Young LLP was appointed receiver on July 15, 2024, under powers granted by a charge dated October 19, 2012, and registered on October 31, 2012. The charge covered property identified as Kisumu Municipality/Block 12/94.
Shelter Afrique, formally known as the Company for Habitat and Housing in Africa, provides financing for housing and real estate projects across the continent. The action indicates the lender is seeking to recover funds through control of the charged asset.
Receivership places the company’s assets and operations under the receiver’s management, with the aim of safeguarding the property and maximising recovery for the creditor.
