Tirepa Oil Limited moved to court in May seeking to wind up Spectre, arguing that the firm had failed to pay Sh25 million despite several demands.
On Tuesday the parties asked Nairobi’s Milimani Commercial division Judge Francis Tuiyot to give them more time to settle the matter out of court.
Spectre International has started out-of-court talks with a firm that is seeking to wind it up over an unpaid debt.
Tirepa Oil Limited moved to court in May seeking to wind up Spectre, arguing that the firm had failed to pay Sh25 million despite several demands.
On Tuesday the parties asked Nairobi’s Milimani Commercial division Judge Francis Tuiyot to give them more time to settle the matter out of court.
“We require another month to settle the matter,” the lawyer representing Tirepa Oil Limited told the court.
The case has been set for mention on January 23, 2019 to confirm progress.
Court records show that the negotiations started in June and have been going on since then.
Tirepa Oil Limited supplied Furnace Oil to the Spectre International between April 2015 and October 2016, after which the firm allegedly failed to pay Sh25million.
Spectre International Ltd is part of the flagship business of opposition chief Raila Odinga, but the company is different from Mr Odinga’s East African Spectre, the liquefied petroleum gas cylinder manufacturer based in Nairobi.
Tirepa Oil further accused Spectre International of failing to remit to KRA Sh2.52 million withheld tax for goods supplied during the same period.
The firm in a letter dated December 19, 2017 gave Spectre International 7 days to pay up failure which it was to move to court to seek recovery.
The letter which has been filed in court is addressed to Spectre International with its address indicated as Busia Road, Ontonglo Kisumu.
The law firm that authored the later further demanded from Spectre International a top up of Sh578,550, being collection fees.
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