Kenya Power has moved to court seeking to freeze Mumias Sugar Company’s assets until the struggling miller settles a Sh1.1 billion electricity bill – a demand that could worsen the miller’s dwindling fortunes.
The bill arose from Kenya Power supplementing Mumias’ power production plant between 2009 and 2014.
While the miller has only paid Sh70 million, the electricity distributor wants the court to compel Mumias to pay the total bill, a move that may disrupt the government’s Sh1 billion rescue bid of the sugar manufacturer.
Business Daily"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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