<p class="ql-align-center">RULING OF THE COURT</p><p>This is a <em>Rule 5(2)(b)</em> application which inter alia seeks an injunction to restrain the respondent Bank from realizing property, <em>Kwale/Diani Beach/Block/603</em> in exercise of its statutory powers of sale and further seeks a stay of further proceedings in <em>High Court Civil Case No. 709 of 2009</em> pending the hearing of an intended appeal against a ruling of the High Court <em>(Kimondo, J.)</em>, made on 17^th November 2011 in <em>High Court Civil Case No. 709 of 2009</em>. The application is supported by an affidavit sworn by the applicant/chargor on 24^th November 2011.</p><p>The factual background of the dispute is that in 2007, the applicant who is the registered owner of Kwale/Diani Beach/Block/603 applied for a development loan in the sum of Kshs.7 million to complete construction of a commercial building adjacent to the aforesaid parcel being Kwale/Diani Beach/Block/605. The loan was approved in March 2008 and a charge over parcel 603 (above) was executed on 26^th March 2008 and the disbursement…</p>