Home Business News Companies Spectre International set for auctioning to repay debt

Spectre International set for auctioning to repay debt

Spectre International a company associated with oppositionleader Raila Odinga is set to be auctioned to recover a huge debt.

Betric Kenya Ltd the firm that owes Spectre InternationalLtd Ksh 7.7 million has been given a go ahead by a Mombasa court to recover themoney.

Spectre entered into contract with Betric Kenya to be supplied14,500 litres of fuel at a cost of 8 million but only a small amount has so farbeen paid.

Speaking on behalf of Betric was lawyer Wameyo Onyango whosaid that the agreement initially was a 30 days credit period.

Spectre International interest

Betric Kenya further stated that the total amount they owe Spectre International has been accruing interest since 2016 when it was supplied.

Also read:Meet Kenyan born photographer selling Dusit photos

As at now the amount that Betric owes Spectre Internationalstands at Ksh 7.7 million inclusive of the interest that they have to pay toservice their loan.

On several occasions Betric Kenya are said to have madewritten request to Spectre to pay up by they have failed to fulfill the promisethus the suit.

Spectre International set for auctioning to repay debt
Slavian Mwangecho
Passionate blogger on a day to day activities happening in Kenya, Africa and around the world. A keen follower of the latest news making headlines around the world

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