Simple Pay Capital Limited v Kioko & another
Simple Pay Capital Limited v Kioko & another [2025] KEHC 10206 (KLR)
The court found that the plaintiff was entitled to proceed directly against the guarantors without first pursuing the borrower, as the deeds of guarantee and indemnity did not require prior enforcement against the principal debtor. The court also held that the contracts between the plaintiff and the defendants did not contain an arbitration clause, so the plaintiff was not bound to refer the dispute to arbitration. Regarding interest, the court determined that the plaintiff failed to prove entitlement to 10% per month as claimed, since the agreement did not clearly incorporate the letter of o…
Source excerpt
- Loan Guarantees
- Enforcement Of Guarantee
- Interest Rate Disputes
- Contractual Liability