SOUTHERN CREDIT BANK CORPORATION LIMITED V. TULIP APARTMENTS LIMITED & 2 OTHERS

RULING OF THE COURT

This is an application by way of Notice of Motion brought under Rule 5(2)(b) of the Court of Appeal Rules (the Rules) in which the applicant, Southern Credit Bank Corporation Limited, seeks mainly an order that the decision of the superior court in Civil Case No. 284 of 2002 dated 3^rd October, 2003 be stayed until the applicant’s intended appeal is heard and determined. The application is brought on the following grounds:-

“(a) THAT the applicant/1^st defendant has filed a Notice of Appeal against the whole decision of the judgment delivered by the superior court dated 3^rd October, 2003 and unless there is a stay of execution, the applicant’s/1^st defendant’s intended appeal will be rendered nugatory and the applicant/1^st defendant will be obliged to release and discharge the security document to the 1^st and 2^nd respondents/1^st and 2^nd plaintiff in which case the applicant/1^st defendant will have no control or possession of the security documents.

(b) THAT if the applic…