Monday, April 19, 2021
HomeBusiness NewsCompaniesSpectre International set for auctioning to repay debt

Spectre International set for auctioning to repay debt

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

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

Spectre entered into contract with Betric Kenya to be supplied 14,500 litres of fuel at a cost of 8 million but only a small amount has so far been paid.

Speaking on behalf of Betric was lawyer Wameyo Onyango who said 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 International stands at Ksh 7.7 million inclusive of the interest that they have to pay to service their loan.

On several occasions Betric Kenya are said to have made written request to Spectre to pay up by they have failed to fulfill the promise thus the suit.

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular