Invesco Assurance Company Limited has reached an agreement with a law firm that has been pushing to liquidate it over a Sh3.8 million legal fees bill.
The insurance firm and Wambugu Kariuki and Associates have recorded a consent in court detailing modalities of the payment, that if implemented will settle the entire dispute.
The law firm moved to court in February accusing Invesco of failing to settle the bill despite several demands.
But the insurer in its response denied the allegations, accusing the law firm of abusing the court process by pushing for liquidation.
The consent adopted by the court as an order indicate that Invesco will pay Sh1million by March 23, and Sh400,000 by April 30 and thereafter similar amount by the end of every month until settlement in full.