Libya tries to Halt Liquidation of Rwanda Hotel

The Government of Rwanda is going ahead with plans to liquidate the Umubano Hotel in Rwanda’s Kigali, despite a case before the Supreme Court seeking to halt the process.

Soprotel, a Libyan government-affiliated company, holds majority shares (60 per cent) in the hotel while the rest is owned by the Rwandan government.

Soprotel has appealed to the Supreme Court after the high court sanctioned liquidation.

The government has appointed a temporary liquidator who has called on the hotels’ creditors to register their claims before the end of this month.

A Rwandan court had earlier rejected a $19 million offer by the Libyan government to allow it to retain majority shareholding in the four-star hotel, months after plans to refurbish it stalled.

(Source: The East African)

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