OMEGA ENTERPRISES (KENYA) LTD. V. KENYA TOURIST DEVELOPMENT CORPORATION LTD., KENYA NATIONAL CAPITAL CORPORATION LTD. & ANDREW DAVID GREGORY

JUDGMENT OF GICHERU, J.A.

The facts giving rise to this appeal are fully stated in the judgment of Pall, J.A. the details of which I will not revert to save where necessary for the purpose of this judgment.

ELDORET SIRIKWA HOTEL LIMITED situated on LAND TITLE NUMBER L.R. ELDORET MUNICIPALITY/BLOCK 4/69 measuring approximately 1.5 hectares which latter together with the improvements thereon were charged in favour of the second respondent herein in consideration of some financial advances not exceeding K.Shs. 7,000,000/- and was in receivership on behalf of the National Bank of Kenya Limited, the Hotel’s debenture holder to secure a sum of Kshs. 1,500,000/- advanced to it by the said bank, was on the morning of 18^th December, 1992 at about 10.00 a.m. due for sale at a public auction on the instructions of the second and third respondents, the Chargee and Receiver/Manager respectively of ELDORET SIRIKWA HOTEL LIMITED. The latter was indebted to the first respondent in an unsecured sum of K…