Nairobi, Nov. 9 -- A Kenyan engineering firm has accused construction company Zakhem International of using insolvency proceedings to frustrate its efforts to recover Sh2.26 billion from the multinational in the form of unpaid dues. The debt arises from the replacement of the Mombasa-Nairobi oil pipeline.

Oilfields Engineering & Supplies Limited says Zakhem is seeking to liquidate it over an alleged debt of Sh75.86 million, despite an arbitral award in favour of the Kenyan firm of $17.41 million (about Sh2.26 billion), excluding interest, taxes and arbitration fees.

Published by HT Digital Content Services with permission from Business Daily....