YUSUF KIFUMA CHANZU V. EQUITY BANK LIMITED & CAPITAL CONSTRUCTION COMPANY LIMITED

RULING OF THE COURT

On 19^th September, 2013, the applicant, Yusuf Kifuma Chanzu, took out the Motion on Notice before us under Rule 5 (2) (b) of the Rules of this Court, praying principally for an injunction to restrain the respondents from selling or transferring LR NO 10198/6 (Title No IR 66702), Nairobi (the suit property), pending the hearing and determination of Civil Appeal No. 164 of 2012, currently pending before this Court. The appeal arises from the judgment and decree of the High Court (Mutava, J.) dated 26^th April, 2012 in which the learned judge dismissed the applicant’s suit after finding that he was well and truly indebted to the 1^st respondent, Equity Bank Ltd.

The background to the application is a letter of guarantee and indemnity executed by the applicant on 2^nd November 2007 in favour of the 1^st respondent, in consideration of the 1^st respondent extending loans, advances and other financial facilities to the 2^nd respondent, Capital Construction Company Ltd. By that l…