IN THE COURT OF APPEAL
AT NAIROBI
(CORAM: OUKO, (P), GATEMBU and KANTAI, JJ.A)
CIVIL APPEAL NO. 252 OF 2009
BETWEEN
KENYA HOTELS LTD..............................................................APPELLANT
AND
ORIENTAL COMMERCIAL BANK LTD
(Formerly known as THE DELPHIS BANK LIMITED)........RESPONDENT
(Appeal from the Judgement/Decree of the High Court of Kenya at Nairobi (Mr. Justice Luka Kimaru) dated the 28th August 2009
in
HCCC No. 195 of 2005 (OS)
********
JUDGMENT OF W. OUKO (P)
At the centre of this dispute is a Memorandum of Equitable Mortgage by Deposit of Documents of Title dated 3rd April, 2001 and registered on 5th April, 2001 in favour of Delphis Bank Limited, the predecessor of the respondent in respect of a bridging loan facility of Kshs. 60,000,000 advanced to the appellant by the latter. To secure the facility, the appellant deposited with the respondent a certified copy of title to Land Reference Nos. 6291/1 and 6901. When the appellant defaulted in the repayment, the respondent took…