[2025] KEHC 10267 (KLR)
The court adopted the consent order as binding and enforceable, marking the suit as partially settled on the terms agreed by the parties. The plaintiff is to pay the outstanding principal sum in structured installments, with penalty interest to be negotiated after the first payment. The 1st defendant is obligated to...
Source-derived case information.
- Citation
- [2025] KEHC 10267 (KLR)
- Parties
- Plaintiff: Nazed Limited; Defendant: KCB Bank Kenya Limited; Defendant: Saddabri Auctioneers
- Court
- High Court
- Court Station
- High Court at Eldoret
- Jurisdiction
- Kenya
- Case Number
- Civil Case E018 of 2024
- Procedural Posture
- Civil Case / Consent Order; Partial Settlement of Suit
- Outcome
- Suit partially settled by consent; court adopts consent order as decree.
- Judges
- RN Nyakundi
- Legal Topics
- Loan Facility Dispute, Consent Judgment, Debt Repayment Schedule, Penalty Interest, Security Discharge
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
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Parties
Nazed Limited
Plaintiff
KCB Bank Kenya Limited
Defendant
Saddabri Auctioneers
Defendant
Procedural Posture
Civil Case / Consent Order; Partial Settlement of Suit
Legal Issues
- 1 Whether the parties have reached a binding consent capable of settling the dispute.
- 2 How the outstanding loan and penalty interest are to be paid and negotiated.
- 3 Whether the discharge of the plaintiff's security is contingent on full payment.
Ratio Decidendi
The court adopted the consent order as binding and enforceable, marking the suit as partially settled on the terms agreed by the parties. The plaintiff is to pay the outstanding principal sum in structured installments, with penalty interest to be negotiated after the first payment. The 1st defendant is obligated to discharge the plaintiff's land title within seven days of the final payment. The consent resolves the substantive dispute between the parties, subject to further agreement on penalty interest, and each party will bear its own costs. The court's role is limited to recording and enforcing the consent, which has the effect of a judgment and decree.
Court Disposition
Suit partially settled by consent; court adopts consent order as decree.
Orders
- The suit is marked as partially settled on the terms of the consent.
- Plaintiff to pay Kes. 27,456,069.49 in structured installments as specified.
Full Case Text
Judgment text and source record
25 paragraphs
Nazed Limited v KCB Bank Kenya Limited & another (Civil Case E018 of 2024) [2025] KEHC 10267 (KLR) (16 July 2025) (Ruling)
Neutral citation: [2025] KEHC 10267 (KLR)
Republic of Kenya
In the High Court at Eldoret
Civil Case E018 of 2024
RN Nyakundi, J
July 16, 2025
Between
Nazed Limited
Plaintiff
and
KCB Bank Kenya Limited
1st Defendant
Saddabri Auctioneers
2nd Defendant
Ruling
1. In the presence of both counsels, the following consent order be and is hereby adopted as a court order capable of being enforced as a decree of this court. That the parties have covenanted to abide by the terms of the consent which also settles the entire suit filed by the plaintiff as against the defendants. Thus:
2. The instant suit is hereby marked as partially settled on the terms set out hereunder
3. The outstanding loan facility owed to the plaintiff to the 1st defendant as at 30th June, 2025 is a sum of Kes. 27,456,069. 49 comprised as follows;a.Kes. 19,444,937. 59 being the principal sumb.Kes. 8,011,131. 9 being the penalty interest
4. The plaintiff to pay the principal sum Kes. 27,456,069. 49 only as follows;a.A sum of Kenya Shillings Six Million (kes. 6,000,000) only to be paid on or before 31st December, 2025b.A sum of Kenya Shillings Six Million (kes. 6,000,000) to be paid on or before 30th June 2026c.A sum of Kenya Shillings Six Million (kes. 6,000,000) to be paid on before 31st December 2026d.The balance and any accruals to be paid on or before 30th June 2027
5. The parties to negotiate on the payment of the penalty interest after payment of the first installment on the principal sum and possibly record a further consent.
6. The interest to be serviced at Kes. 600,000 every three months
7. The 1st Defendant to discharge and release the plaintiff’s land title number Nandi/Mutwot/1210 within 7 days from the date of the last payment by the plaintiff
8. Each party to bear own costs of the suit
GIVEN UNDER MY HAND SEAL OF THIS COURT THIS 16TH JULY 2025. .....................R. NYAKUNDIJUDGE