RULING OF THE COURT
1. The applicant’s Notice of Motion dated 24th September 2020 seeks stay of execution of the judgment delivered on 2nd September 2020 by G. Nzioka, J. in Nairobi Commercial and Admiralty Division, High Court E335 of 2019 and the ensuing decree pending hearing and determination of an intended appeal.
2. In the impugned judgment, the learned judge allowed the 1st respondent’s claim for USD3,681,924.64 plus costs, based on a Deed of Assignment of Receivables between the applicant and the 1st respondent. The applicant, being aggrieved by that decision, has filed a notice of appeal, and applied for typed proceedings.
3. The applicant’s affidavit in support of the application reveals that on 6th December 2017 the 2nd respondent procured a credit facility from the 1st respondent in the sum of USD 3,500,000 to provide working capital to the 2nd respondent against invoice No.00229 to the applicant under a contract between the applicant and the National Transport and Safety Aut…