Relief for Raila Odinga firm, Spectre International in Sh7 million debt row
Relief for Raila Odinga firm, Spectre International in KSh7 million debt row with another firm that supplied it with oil.
An order requiring a company connected to Orange Democratic Movement (ODM) party leader Raila Odinga’s family to pay Sh7.7 million to another company that provided it with oil has been put on hold by the High Court.
The order of stay (suspension) was given by Justice Olga Sewe pending the hearing and decision of Spectre International’s proposed appeal against the ruling rendered against it by a magistrate’s court.
The court ordered Spectre International to deposit the entire decree amount in a joint interest-earning account in the names of lawyers who represent both Betric Kenya Ltd. and Spectre International within 45 days.
Spectre International had filed an application seeking to have the execution of the judgment suspended pending a hearing and determination of its appeal.
The court noted that there appeared to be no indication in the replying affidavit (of Betric Kenya Ltd) as to its resources other than a general assertion that it was in business.
The judge found that Spectre International had made a good case to warrant the issuance of the orders it asked in its application.
At the magistrate’s court, Betric Kenya Ltd filed a lawsuit against Spectre International to recover money that was owed on account of fuel oil provided on various dates between June 4 and July 18, 2016.
The business said that Spectre International and it had agreed that payments would be made within 30 days of the day the oil was delivered.
Additionally, Betric Kenya Ltd claimed that it made a delivery for Sh8 million, which Spectre International paid for, leaving a balance of Sh7.7 million that it was claiming.
Further, Betric Kenya Ltd claimed that it made a delivery for Sh8 million, which Spectre International paid for, leaving a balance of Sh7.7 million that it was claiming.
It said that in order to pay for the deal, it had to borrow money at a 5% interest rate, which attracted interest rates.
Spectre International defended itself by denying that Betric Kenya Ltd supplied the fuel oil or that it did not pay for any delivered goods.
The company told the court that the goods were not of the quantity alleged by Betric Kenya Ltd or the price claimed.
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