D. J. LOWE & COMPANY LIMITED V. BANQUE INDOSUEZ

RULING OF THE COURT

We have before us an application expressed to be brought under rules 5(2)(b) and 42 of the Rules of this court. The applicant is a Limited liability company known as D. J. Lowe and Company Limited.

On 30th October, 1997 the superior court (Waki, J) dismissed an application by the applicant seeking to restrain the respondent bank (Banque Indosuez) from appointing a receiver over the applicant's property and from selling its assets as well as its landed property known as sub-division No.1280 of section 1, Mainland North Mombasa, title No. C.R. 11898. The learned judge held that the applicant had failed to establish a case with probability of success and that in any event the loss that could be suffered by the applicant was not irreparable.Even on balance of convenience the learned judge found in favour of the respondent bank.

The applicant has not lodged an appeal against the refusal by the learned judge to grant the restraining orders.

The applicant however applied for …