[2025] KEHC 5296 (KLR)

[2025] KEHC 5296 (KLR)

The Plaintiff failed to prove, on a balance of probabilities, that the Defendant made any representation or entered into any agreement to invest her funds in offshore index funds or guarantee a return. The evidence established that the Plaintiff opened a trading account with the Defendant, acknowledged and agreed to...

Source-derived case information.

Citation
[2025] KEHC 5296 (KLR)
Parties
Plaintiff: Joyce Nancy Amondi Ochieng; Defendant: EGGM Securities Limited
Court
High Court
Court Station
High Court at Nairobi (Milimani Commercial Courts)
Jurisdiction
Kenya
Judgment Date
28 April 2025
Case Number
Commercial Case E133 of 2023
Procedural Posture
Commercial Case / Judgment
Outcome
suit dismissed with costs to the defendant
Judges
JWW Mong'are
Legal Topics
Online Forex Trading, Broker Liability, Misrepresentation Claims, Client Agreements
Source Language
english
Commercial and Corporate Civil Procedure Online Forex Trading Broker Liability Misrepresentation Claims Client Agreements

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Summary, issues, holding and outcome

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Parties

Joyce Nancy Amondi Ochieng

Plaintiff

EGGM Securities Limited

Defendant

Procedural Posture

Commercial Case / Judgment

Legal Issues

  1. 1 Whether the Defendant is liable to refund the Plaintiff the sum of USD 231,105 plus interest as claimed.
  2. 2 Whether the Defendant made representations to the Plaintiff that it would invest the money offshore in index funds and guarantee a return.
  3. 3 Whether the Plaintiff's losses are attributable to the Defendant's negligence, misrepresentation, or breach of duty.

Ratio Decidendi

The Plaintiff failed to prove, on a balance of probabilities, that the Defendant made any representation or entered into any agreement to invest her funds in offshore index funds or guarantee a return. The evidence established that the Plaintiff opened a trading account with the Defendant, acknowledged and agreed to the execution-only nature of the services, and personally conducted trades on the platform. The Defendant provided sufficient documentation, including the client agreement and risk disclosures, which the Plaintiff signed and accepted. There was no evidence of misrepresentation, negligence, or breach of duty by the Defendant. The Plaintiff's losses arose from her own trading...

Court Disposition

suit dismissed with costs to the defendant

Orders

  • The Plaintiff's suit is dismissed with costs to the Defendant.