Operations at Double M Bus Company headquarters along Kangundo Road were brought to a halt after auctioneers stormed the premises and seized assets over a KSh335,238.60 debt.
Auctioneers Raid Offices
Officials from Intefield Auctioneers, accompanied by police officers from Mowlem Police Station, carted away several items from the company’s offices.
Among the seized assets were office seats, electronics, and water dispensers, significantly disrupting the firm’s day-to-day operations.
Disputed Insurance Claim
According to the company’s owner, Mary Mwangi, the debt originated from an unresolved insurance claim involving one of the company’s buses.
She explained that the issue began after Blue Shield Insurance collapsed before settling the claim.
“After Blue Shield folded operations, the Policyholders Compensation Fund was willing to shoulder the bill, but lawyers on the other side refused to sign the papers, leaving Double M exposed,” Mwangi said.
Heavy Losses Reported
Mwangi further revealed that the company has already suffered significant losses, with at least 10 buses reportedly auctioned due to the ongoing dispute.
The incident highlights the challenges businesses face when dealing with collapsed insurers and prolonged legal processes, as affected firms struggle to recover compensation and stay afloat.
