AAR Healthcare Unit under liquidation amid bankruptcy

AAR Healthcare Unit under liquidation amid bankruptcy. [Image: Courtesy]
TANZANIA — AAR Healthcare Tanzania Ltd is under liquation effective from April 22, 2021 following financial struggles the unit is facing.

Joint liquidators Nelson Emmanuel Musya and David Timothy Tarimo of Pricewaterhouse Coopers have in a statement notified the public and creditors that they have assumed control of the company’s assets and are receiving claims under the ensuing circumstances.

“to enable any claim you may have against the company to be duly adjudicated and considered in the distribution of any realisations from the sale of the assets of the company, please send to the liquidators particulars of any claim.” Read the statement.

“The company will shut down all of its operations effective Sunday, 25th April 2021.”

In March, Parent company AAR-Healthcare Holdings headquartered in Kenya had announced that it has stopped to provide bailout funds hence opting for its closure.

“AAR Healthcare Holdings is no longer willing to support the financial requirements of Aar Tanzania Ltd and on this basis the board of directors resolved to initiate a creditors’ voluntary winding up process.” Chief Executive of AAR Tanzania said.

As part of the winding up process, the company’s creditors converged for a meeting to formally agree on appointing liquidators on April 22.

According to Tanzania’s Companies Act of 20002, “the creditors and the company at their respective meetings mentioned in section 347 may nominate a person to be liquidator for the purpose of winding up the affairs and distributing the assets of the company.

“If the creditors and the company nominate different persons, the person nominated by the creditors shall be the liquidator.”

AAR was established in 1984 in Kenya and has been in Tanzania for a decade, having been introduced in the country in 2017 as a health insurer.