Nairobi, Feb. 26 -- The conclusion of ARM Cement's liquidation has been held up by tax claims by revenue authorities in Kenya, Tanzania and Rwanda, delaying the disbursement of Sh548.8 million ($4.25 million) by the company's liquidators to creditors.

ARM was put into administration in August 2018 after defaulting on its obligations, leading to sale of its assets to settle creditor claims.

A report by the collapsed company's joint liquidators Muniu Thoithi and George Weru states that the Tanzania Revenue Authority (TRA) has recently raised a tax assessment of Sh187.75 million (Tsh3.72 billion) against ARM Tanzania Limited, whose assets are currently being sold off.

The liquidators, in a report ahead of a creditors meeting to be held Fr...