Nakumatt investors lose battle against Mayfair Insurance

A closed down Nakumatt store. [Wilberforce okwiri, Standard]

An international tribunal has dashed the hopes of investors who were seeking to recoup their investment from Mayfair Insurance Company Limited after the Nakumatt Supermarket collapse.

At the heart of the battle lodged before the London Court of International Arbitration was whether the insurer ought to have paid Sh508 million which was at least 80 per cent investment, it had allegedly guaranteed the investors.