Triton liquidator moves to court to stop sale of assets

Milimani Commercial Court has also barred Triton from interfering with its investments in shares of the Nairobi Stock Exchange listed companies estimated to be worth over the Sh2 billion.

Mr Devani is also stopped from offering for sale shares or assets held in 19 other companies until a case filed by KCB is heard and determined.

Last week, in yet another tussle over the Triton Saga, Kenol/Kobil filed an application in court seeking permission to record an arbitration award before a judge.

In a letter filed at the High Court in Nairobi, the oil dealer wants the case listed for the award believed to have been arrived at after a months-long battle with Kenya Pipeline Company (KPC).

In July, KPC objected to an arbiters ruling that ordered them to produce a Sh1 billion bank guarantee before the talks were concluded.

Then, the oil dealer sought over Sh3 billion against KPC. Justice Kimaru, however declined to grant the order, saying the matter was before an arbiter.

Kenol/Kobil has been seeking orders to attach KPC’s three terminal depots in Nakuru, Kisumu and Eldoret to realise the Sh1 billion guarantee awarded by the arbitrator.

Several oil companies have sued KPC over last year’s Triton scandal.

In the cases, the oil firms sued KPC for allegedly contravening a transport and storage agreement earlier signed with the parastatal.