JUDGMENT OF THE COURT
The appeal arises from the Judgment of J.M. Mutava, J (as he then was) dated the 15th day of March, 2012.
The background to the appeal is that, vide a letter dated 4th January, 2010 ( the letter of request), the appellant (the Company), requested for various banking facilities from the respondent (the bank) and provided the necessary documentation to facilitate the opening of bank accounts and for urgent disbursement of the requested sums.
Acting on representations and assurances by the Company, the bank sanctioned the release of the sums of money forming the financial accommodation, and also permitted the company to draw down on all the approved financial facilities before registration of the charge and debenture security documents in its favour as required by law.
The company defaulted on all the financial facilities accorded to it by the Bank, prompting the bank to instruct its advocate to issue a statutory winding up notice upon the company. It is this action on …