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NATIONAL BANK OF KENYA LIMITED v. SHIMMERS PLAZA LIMITED

(2009) JELR 98690 (CA)

Court of Appeal  •  Civil Appeal 26 2002  •  3 Jul 2009  •  Kenya

Coram
Samuel Elikana Ondari Bosire, Alnashir Ramazanali Magan Visram, Erastus Mwaniki Githinji

Judgement

JUDGMENT OF THE COURT

This is an appeal against the ruling of the superior court (Onyango Otieno, J. – as he then was) dated 4th December, 2001 whereby the superior court granted an interlocutory injunction in favour of the respondent herein restraining the appellant from selling or disposing of L.R. No. 1870/IX/128 Westlands pending the hearing and determination of the suit or until further orders.

Sometime in 1997, the appellant National Bank of Kenya Limited (the bank) granted various banking facilities including over-draft; letters of credit guarantees and bills discounting facilities to M/S. TRADE WINGS LTD. (principal debtor). The banking facilities were secured by both an instrument of guarantee dated 30th January, 1997 given by Shimmers Plaza Limited (respondent) and a legal charge over L.R. No. 1870/IX/128 Westlands registered in the name of the respondent. Both the guarantee and the charge secured a mortgage debt not exceeding Shs.200,000,000/=. The principal debtor and the re…

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