judy.legal
Login Register

Stephen Mbogo Karuiki v. K- Rep Bank Ltd

(2018) JELR 94832 (CA)

Court of Appeal  •  Civil Appeal 47 of 2017  •  24 May 2018  •  Kenya

Coram
Alnashir Ramazanali Magan Visram, Martha Karambu Koome, Wanjiru Karanja

Judgement

JUDGMENT OF THE COURT

1. Stephen Mbogo Kariuki (the appellant), guaranteed loan facilities advanced by K- Rep Bank (the respondent), to Steveco Chemical (E.A) Limited and Jea Step Contractors Company Limited. In addition, he charged his parcel of land described as L.R No. 10509/Section 1/ Mainland North situated at Mombasa as security for the said facilities. At some point, the two companies were unable to make repayments within the scheduled timelines. According to the appellant, he requested the respondent for a reschedule of the loan repayments and he believed that the respondent had given him time to liquidate the loan.

2. However, on or about the 5th and 12th May, 2014 the respondent advertised the sale of the suit property by public auction in exercise of its statutory power of sale. In an attempt to stop the said sale, the appellant filed suit in the High Court seeking inter alia:

a) A permanent injunction restraining the defendant either by itself, its agent, servants and/or auct…

There's more. Sign in to continue reading

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login