Published on 15th July, 2023 (7 months ago) ● Updated on 15th July, 2023
High Court Bars EAPCC from Selling 25 Land Parcels
(1 minute read)
The High Court has barred East Africa Portland Cement Company (EAPCC) from selling 25 land parcels. The court's decision came after EAPCC's employees filed a petition alleging that the company was selling the land to raise funds to pay off its debts.
The employees argued that the sale of the land would adversely affect their pensions and benefits. They also argued that the company was not following the proper procedures for selling the land.
The court agreed with the employees and ordered EAPCC to stop the sale of the land. The court also ordered the company to conduct a fresh valuation of the land and to consult with the employees before selling it.
The decision by the court is a victory for the employees and a setback for EAPCC. The company is now facing a financial crisis and it is unclear how it will raise the funds to pay off its debts.
The court's decision is also a reminder of the importance of employee rights. The employees in this case were able to successfully challenge the company's plans to sell the land, which could have had a significant impact on their pensions and benefits.
This case is a precedent-setting decision that could have implications for other companies that are considering selling assets to raise funds. It is important for companies to be aware of their obligations to their employees and to consult with them before making any major decisions that could affect their interests.
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