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Kenyan firm accuses Zakhem International of asset transfers to avoid debt
Workers lay a pipeline. Azicon Kenya was one of the companies sub-contracted by Zakhem International Construction for the replacement of the 450-kilometre Nairobi-Mombasa pipeline in 2018, at a cost of Sh48 billion.
A Kenyan contractor firm now accuses Lebanese company Zakhem International Construction Limited of transferring its assets to other entities to avoid being attached over a debt of Sh460 million.
In an application to be heard next month, Azicon Kenya Limited said the directors of the Lebanese firm have deliberately transferred the assets, including vehicles and parcels of land, to third parties for purposes of defeating execution of its decree.
