A Mombasa Court on Wednesday allowed a debtor to auction assets belonging to Spectre International – a company owned by the family of ODM Leader Raila Odinga.
Court allows Raila’s company to be auctioned
Setback for the Odingas
The auction will help Beatric Kenya Ltd to recover a Sh7.7 million debt which includes interest from Sh7.3 million worth of fuel that was delivered to Spectre.
Beatric Kenya, which operated from Mombasa, told the court that it had delivered 14,500 litres of fuel worth Sh8 million.
The agreement had been that the payment would be issued within thirty days but nearly three years later, only Sh700,000 was paid leaving the Kisumu-based company with a debt of Sh7.3 million.
Beatric Kenya’s director, Beatrice Aoko said her company was struggling with a loan it had taken to supply to the firm owned by the Odinga family.
She added that several notices, including one published in the national dailies through orders of the court, had been ignored.
The court ruled in favor of Beatric and allowed it to recover the remaining balance and accrued interest.
In 2017, Subira Shipping Contractors moved to the High Court, through their lawyers, seeking an order that would force Spectre International Ltd to pay a debt owed to them.
The case is still ongoing as the contractor wants Spectre to face insolvency and liquidation of its assets to recover the debt.
Odinga’s political leaders have in the past alleged that Spectre International was one of debtors that led to the collapse of Mumia Sugar Company – the ODM leader has denied the allegations.
“Mumias supplied molasses to my company on a bank guarantee of Sh2 million. Where is the Sh300 million debt coming from?” Odinga asked in 2016.
Odinga also owns East African Spectre, a separate company that manufactures the liquefied petroleum gas cylinders in Nairobi.
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