CMC di Ravenna has applied for a temporary court order to have it recognised as bankrupt in Kenya as it is in Italy.
The firm which is in behind the Elgeyo Marakwet dam Scandal applied the order to prevent the companies in Kenya they woe money from suing them in local Kenyan courts.
The firm, further wants the voluntary bankruptcy proceedings in Italy to be recognised around the world in all countries it operates including the dam scandal case involving them in Kenya.
The move by the firm was attributed after Barclays Bank filed a suit against it, seeking to repossess 98 vehicles and equipment to recover an Sh595 million loan.
However the DCI and the Director of Public Prosecutions are holding 45 of the vehicles bought using the Barclays loan which they have been order for investigation.
Little was known about the firm until the DCI uncovered the loss of Ksh 21 billion that was paid to CMC di Ravenna for the construction of Arror and Kimwarer dam in Elgeyo Marakwet.
The scandal saw prominent government officials linked to the loss of the funds including Deputy President’s close allies.
The firm is currently being investigated by the DCI.