[2024] KEHC 2870 (KLR)
The court found that the recalculated interest amount of Kshs. 36,322,025/=, as determined by the jointly appointed accountant and not objected to by either party, should be adopted as the sum payable to the plaintiff. The court further held that a decree should issue for payment of this sum in accordance with its...
Source-derived case information.
- Citation
- [2024] KEHC 2870 (KLR)
- Parties
- Plaintiff: Hussein Dairy Limited; Defendant: Southern Credit Banking Corporation
- Court
- High Court
- Court Station
- High Court at Nairobi (Milimani Commercial Courts)
- Jurisdiction
- Kenya
- Case Number
- Civil Suit 252 of 2008
- Procedural Posture
- Civil Suit / Post Judgment Enforcement Ruling
- Outcome
- Judgment entered for the plaintiff for Kshs. 36,322,025/= as recalculated interest; decree to issue accordingly.
- Judges
- A Mabeya
- Legal Topics
- Loan Interest Recalculation, Judgment Enforcement, Banking Facility Disputes
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
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Parties
Hussein Dairy Limited
Plaintiff
Southern Credit Banking Corporation
Defendant
Procedural Posture
Civil Suit / Post Judgment Enforcement Ruling
Legal Issues
- 1 Whether the recalculated interest amount as determined by the court-appointed accountant should be adopted as the sum payable to the plaintiff.
- 2 Whether a decree should issue for payment of the recalculated sum in accordance with the prior judgment.
Ratio Decidendi
The court found that the recalculated interest amount of Kshs. 36,322,025/=, as determined by the jointly appointed accountant and not objected to by either party, should be adopted as the sum payable to the plaintiff. The court further held that a decree should issue for payment of this sum in accordance with its prior judgment, thereby giving effect to the enforcement of the original judgment through the mechanism of expert determination and mutual consent of the parties.
Court Disposition
Judgment entered for the plaintiff for Kshs. 36,322,025/= as recalculated interest; decree to issue accordingly.
Orders
- The plaintiff shall be paid Kshs. 36,322,025/= as recalculated interest in accordance with the judgment of 4/9/2020.
- A decree to that effect shall issue.
Full Case Text
Judgment text and source record
21 paragraphs
Hussein Dairy Limited v Southern Credit Banking Corporation (Civil Suit 252 of 2008) [2024] KEHC 2870 (KLR) (Commercial and Tax) (21 March 2024) (Ruling)
Neutral citation: [2024] KEHC 2870 (KLR)
Republic of Kenya
In the High Court at Nairobi (Milimani Commercial Courts)
Commercial and Tax
Civil Suit 252 of 2008
A Mabeya, J
March 21, 2024
Between
Hussein Dairy Limited
Plaintiff
and
Southern Credit Banking Corporation
Defendant
Ruling
1. Vide a Motion on Notice dated 5/6/2023, the plaintiff sought that a joint accountant be appointed to recalculate the interest due in the facility as ordered by the Court in its judgment dated 4/9/2020.
2. The Court allowed the application and made the order on 10/7/2023. Pursuant thereto, Francis Kieti & Associates, Certified Public Accountants, were appointed to do the recalculation. Vide a report dated 18/9/2023, which was filed in Court, the said firm recalculated the total recoverable interest as Kshs. 36,322,025/=.
3. On 18/3/2024, the parties appeared before me and urged that the said amount be ordered as payable to the plaintiff.
4. Accordingly, I enter judgment and direct that the plaintiff be paid the said sum of Kshs. 36,322,025/= in accordance with the judgment of the Court made on 4/9/2020.
5. A decree to that effect does issue.It is so ordered.
DATED AND DELIVERED AT NAIROBI THIS 21ST DAY OF MARCH, 2024. A. MABEYA, FCI ArbJUDGE