Nairobi, June 8 -- The Court of Appeal has cleared a non-existent Spanish firm to pursue Sh10 billion from 17 bank accounts belonging to State-owned Kenya Electricity Transmission Company (Ketraco) despite warnings from the Attorney General.

The ruling escalates a legal standoff that now exposes Kenya to the risk of paying the same debt up to three times, as three separate Spanish entities lay claim to a single arbitral award.

The firms include a bankrupt and dissolved company, Instalaciones Inabensa, which the Court of Appeal has given the right to recover more than €62.6 million (Sh10 billion) from Ketraco's accounts.

The appellate court declined to halt execution of the High Court's December 11, 2025 garnishee orders granted t...