Raila's Company Faces Auction over Sh7.7 Million Debt

Spectre International, a company linked to Opposition leader Raila Odinga, is facing auction over Sh7.7 million debt.

This comes after a firm identified as Betric Kenya Ltd moved to court accusing Spectre of failing to pay it for fuel worth Sh7.7 million supplied in 2016.

A Mombasa court has given Betric authority to recover its money, plus interest, by auctioning property belonging to Spectre.

Betric Kenya claims it supplied 14,500 liters of fuel to Spectre International at a cost of Sh8 million but has not been paid more than two years on.

Betric Kenya’s lawyer, Wameyo Onyango told the court that the two firms agreed the amount would be paid within 30 days.

“The total amount payable in respect thereof being Sh8 million, the defendant has made some payments leaving a balance of Ksh7.3 million,” the lawyer said in court documents.

Betric further said that a loan it took to buy the fuel supplied to Spectre has been accruing interest of five percent every month since 2016.

“The plaintiff avers that it has severally written to the defendant demanding the immediate payment of the outstanding accruements."

“But the defendant, in spite of repeated promises, has failed to pay hence this suit,” Betric Kenya states.

Betric Kenya asked the court to compel the defendant to pay it Sh7.7 million for the fuel delivered plus accrued interest on the loan it borrowed.

“The plaintiff’s claim against the defendant is for Sh7.7 million, being the amount payable on account of the fuel delivered to the defendant and accrued interest now payable by reason of the delay in loan payment, which delay has solely been caused by the defendant,” the company said.

Mombasa court magistrate Francis Kyambia has directed Spectre to settle the amount it owes Betric Kenya, failure to which the money will be recovered through auctioning.

Spectre has also been ordered to pay for the cost of the suit which was filed in 2017.