Jubilee Insurance Company Limited v Kishor Ramji Hirani & 2 others [2019] KECA 888 (KLR)
- Court
- Court of Appeal
- Case number
- 888
- Citation
- [2019] KECA 888 (KLR)
- Decided
- 22 February 2019
The appeal is allowed. The judgment of the High Court is set aside. The suit is remitted for retrial by any judge of the High Court.
Facts
The 1st and 2nd respondents applied for a loan of Ksh. 6 million from the appellant Jubilee Insurance Company Limited. The loan was secured by a charge on the suit property. The respondents received Ksh. 4 million, but the balance of Ksh. 2 million was not released. The respondents claimed breach of contract and sought to discharge the charge and release the suit property.
Issues
- Whether the appellant is entitled to enforce the terms of the charge instrument.
- Whether the respondents owe the appellant the sum of Ksh. 5.8 million and interest.
- Whether the respondents are entitled to a detailed statement of account and general damages for breach of contract.
Reasoning
The trial court erred in failing to consider the sums of Ksh. 4 million and Ksh. 1,197,496.45 as part of the respondents' liability. The court did not determine the interest rate on the sum of Ksh. 5.8 million held by the appellant as deposit.
Outcome
Appeal allowed
Orders
- Judgment of the High Court set aside
- Remitted for retrial by any judge of the High Court
- Order for the sum of Ksh. 5.8 million held by the appellant to continue being held on the same terms and conditions until further orders by the High Court at rehearing of the suit
Remedies
- Remitted for retrial by any judge of the High Court
- Order for the sum of Ksh. 5.8 million held by the appellant to continue being held on the same terms and conditions until further orders by the High Court at rehearing of the suit
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