Raila’s company on verge of auctioning over debt
Spectre International Company that is largely associated with Hon Raila Odinga, faces the prospect of being auctioned over a Kes 7.7 million debt.
This is after a case filed by Betric Kenya Ltd that accused Spectre International Company of having failed to pay them for fuel supply done in 2016.
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Yesterday, the court allowed Betric Kenya Ltd to recover their money plus interest.
Betric Kenya Ltd stated that they had delivered 14,500 liters of fuel to Spectre International at a cost of Kes 8 million. The lawyer of Betric Kenya Ltd stated that they had expected the payment to have been done in 30 days.
“The total amount payable in respect thereof being Kes 8 million, the defendant has made some payments leaving a balance of Kes 7.3 million,” Betric Kenya lawyer stated while in court.
There lawyer further argued that to supply the fuel, they had to get a loan that is yet to be serviced and has been accruing interest each passing day.