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Mo Sound threatened with bankruptcy of over 300k debt

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Mo Sound Events has been threatened with bankruptcy for failing to pay a surprisingly small debt of only USD 3,265.4 (Kshs. 337,000).

The event planning, management and production company is owned by Kevin Mulei who also owns NRG Radio station.

Mulei is known for living a flashy and wealthy lifestyle, importing and driving top of the range expensive German cars so it was quite shocking to see court papers putting his firm on the spot over such a trifling amount of money.

A company called Kenya Energy Services Limited has been owed money by Mo Sound since January 2018 and had claimed payment through two invoices dated 25 January 2018 and 24 August 2018. According to court documents, the company provided MoSound with leasing services.

Mulei’s company was not coughing up the money despite getting demands for payment from the creditor’s lawyers.

A statutory demand from the High Court ordered Mulei’s company to pay the debt or else the creditor would file a bankruptcy order against it.

‘It will result in loss of ratings’ Radio Africa enjoined in Kibe and Kamene suit

Nothing in the court file shows whether MoSound will be or is already bankrupted. Word Is will watch that space keenly and report on any new developments.

Read more here.

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