Aya Investments Limited Is Financially, Strong, Sound & Secure – Court
Uganda’s Commercial Division of the High Court trashed a liquidation order it had issued against Aya Investments Limited, one of the companies of the Aya Group of Companies.
The now cancelled order was reportedly issued in February 2023 following a case in which Aya is alleged to have failed to pay money owed to Fresh Cuts Uganda Limited even though money had been paid before the time of the judgement and execution.
In Wednesday’s ruling, the court also terminated the services of the official receiver it had appointed to work as a provisional liquidator and closed the court file as well.
We have learnt from both parties that Aya actually paid the money owed to Fresh Cuts long before the court judgement took place.
When this payment happened, Fresh Cuts bosses did not pass on the communication to their lawyers prompting the lawsuit. On their part, Aya Investment Limited boss had travelled out of the country only to be shocked with a newspaper advert last week that one of his companies had been placed under receivership. He was also mourning the sad and untimely death of his dear son.
However, accordingly, court has now set aside the case dating 15th February, and the office of the receiver be discharged as a provisional liquidator.