Barclays Bank of Kenya Limited v Shibeka & 2 others (Civil Application E064 of 2022) [2023] KECA 224 (KLR) (3 March 2023) (Ruling)

Facts

Barclays Bank of Kenya Limited sought to stay the execution of the High Court's ruling in HC Civil Suit E089 of 2019, which restrained Barclays from evicting the 1st and 2nd respondents from the suit property and set aside the sale of the property by public auction.

Issues

1. whether the right to redeem property by a chargor in default may be revived after a public auction
2. whether a chargee is bound to accept an offer for a partial offset of the outstanding loan balance
3. whether the failure to consider an offer for a partial offset is sufficient reason to void or invalidate a sale
4. under what circumstances the Court can reopen a charge

Reasoning

The court found that the applicant's intended appeal raises significant legal issues of public interest and importance, and that the High Court's ruling was premature, granting the respondents 90 days to redeem the suit property and refunding the purchase price if they do.

Outcome

Stay of execution of the High Court's ruling

Authorities cited