RUSSELL CO LTD V. COMMERCIAL BANK OF AFRICA LTD & LAND DEVELOPMENT LIMITED

JUDGMENT

The Plaintiff in Suit No 2179 of 1984, Russell Company Limited brought an action against the Commercial Bank Limited (the First Defendant) and the Land Development Limited (the Second Defendant) seeking redress because the First Defendant had sold a residential parcel of land under a Mortgagee’s statutory powers of sale to the Second Defendant. The general trend of the plaint filed on August 10, 1985 is that the First Defendant knew that the mortgage over the property had been obtained by fraud, and consequently that the First Defendant ought not to have exercised its statutory powers of sale, and further that the SecondDefendant was also at fault in completing the transfer of this land to it. In a word, all these transactions were a fraud upon the Plaintiff Company.

On the same day, August 10, 1984 that the plaint was filed, a chamber summons was filed seeking a vacation hearing for an interlocutory injunction to restrain the First Defendant from parting with the proceeds of t…