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TROPICAL FOOD PRODUCTS INTERNATIONAL LIMITED v. EASTERN AND SOUTHERN AFRICAN TRADE AND DEVELOPMENT BANK (THE PTA BANK)

(2007) JELR 93204 (CA)

Court of Appeal  •  Civil Apeal 253 of 2002  •  12 Oct 2007  •  Kenya

Coram
Samuel Elikana Ondari Bosire, Emmanuel Okello O'Kubasu, Philip Nyamu Waki

Judgement

JUDGMENT OF THE COURT

M/S. Tropical Food Products International Limited (hereinafter “TFPI”) comes before us to challenge an order issued by the superior court (Mwera J.) allowing an application for review of an earlier order recorded by the same court with the consent of the advocates representing the parties. As far as we can gather from the record, the brief facts leading to the appeal are as follows:

TFPI was, for a fairly long period of time, engaged in the business of exportation of fish from Lake Victoria. In 1998, they decided to expand the business and they approached the Eastern and Southern African Trade and Development Bank, a body corporate established by Charter pursuant to the Treaty for the establishment of the Preferential Trade Area for Eastern and Southern African States, more commonly referred to as “PTA Bank” (hereinafter “the Bank”). In a “Facility Agreement” signed between TFPI and the Bank on 8th December, 1998, the Bank agreed to lend and TFPI agreed to borrow s…

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