The fate of the Kisumu molasses plant hangs in the balance after a company moved to court to wind up Spectre International Ltd part of the flagship business of opposition chief Raila Odinga.
The company is different from Mr Odingas East African Spectre, the liquefied petroleum gas cylinder manufacturer based in Nairobi.
A winding up petition is a legal way of enforcing payment of a debt, failure to which a company can be declared insolvent and its assets sold.
Dated February 2 and filed by Subira Shipping Contractors through Gikandi and Company advocates, the petition was presented to the High on March 30 and is the first indicator that all is not well at the molasses company six years after Energem Reso…
Read the full article at: http://www.nation.co.ke/news/Firm-asks-court-to-wind-up-Spectre-International/1056-3875084-fpmgo0z/
