[2019] KEHC 2027 (KLR)

[2019] KEHC 2027 (KLR)

The court found that the plaintiff failed to establish a prima facie case with a probability of success. The evidence, including bank statements provided by the defendant, demonstrated that Reene Investments Ltd was indebted to the bank and that the plaintiff's property was validly charged as security. The court...

Source-derived case information.

Citation
[2019] KEHC 2027 (KLR)
Parties
Plaintiff: Richard Waweru Thuku; Defendant: SBM Bank (K) Limited; Defendant: Stephen Karanja t/a Dalali Traders Auctioneers
Court
High Court
Court Station
High Court at Nairobi (Milimani Commercial Courts)
Jurisdiction
Kenya
Case Number
Civil Case 116 of 2019
Procedural Posture
Notice of Motion / Ruling on Interlocutory Injunction
Outcome
application dismissed
Judges
MM Kasango
Legal Topics
Statutory Power of Sale, Mortgage Dispute, Injunctive Relief, Valuation of Security
Source Language
en
Banking and Finance Land and Property Statutory Power of Sale Mortgage Dispute Injunctive Relief Valuation of Security

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Parties

Richard Waweru Thuku

Plaintiff

SBM Bank (K) Limited

Defendant

Stephen Karanja t/a Dalali Traders Auctioneers

Defendant

Procedural Posture

Notice of Motion / Ruling on Interlocutory Injunction

Legal Issues

  1. 1 Whether the plaintiff has established a prima facie case to warrant the grant of an interlocutory injunction restraining the bank from exercising its statutory power of sale over the charged property.
  2. 2 Whether the alleged overpayment and conflicting property valuations justify the grant of an injunction.
  3. 3 Whether a dispute as to the amount due under a charge is sufficient ground to restrain the exercise of the statutory power of sale.

Ratio Decidendi

The court found that the plaintiff failed to establish a prima facie case with a probability of success. The evidence, including bank statements provided by the defendant, demonstrated that Reene Investments Ltd was indebted to the bank and that the plaintiff's property was validly charged as security. The court held that disputes over the amount due under a charge do not justify restraining a chargee from exercising its statutory power of sale. The court also found no merit in the plaintiff's claim of conflicting valuations, as the defendant was amenable to a joint valuation. Consequently, the plaintiff's application for an interlocutory injunction was dismissed, and the interim...

Court Disposition

application dismissed

Orders

  • The Notice of Motion application dated 15th May 2019 is dismissed with costs to the defendant.
  • The interim injunction order extended from time to time is hereby vacated.