Rafiki Microfinance Bank Limited v Youth Enterprise Development Fund Board (Civil Appeal E222 of 2022) [2024] KECA 239 (KLR) (8 March 2024) (Judgment)
- Court
- Court of Appeal
- Case number
- 239
- Citation
- [2024] KECA 239 (KLR)
- Decided
- 8 March 2024
AI Summary
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TypeCivil AppealPostureAppeal from a High Court judgment and decreeCoramJM MATIVO, P NYAMWEYA, MSA MAKHANDIA
Holding
The appeal is dismissed with costs to the respondent.
Facts
The appellant, Rafiki Microfinance Bank Limited, failed to provide a Bank Guarantee as per a Deed of Guarantee, leading to the respondent, Youth Enterprise Development Fund Board, terminating the Deed and recalling the loan.
Issues
- Whether the appellant's failure to provide the Bank Guarantee was a breach of the Deed of Guarantee.
- Whether the High Court erred in its exercise of discretion in reviewing the appellant's application for a fresh Deed of Guarantee.
Reasoning
The court found no fault in the trial court's exercise of discretion, noting the appellant's failure to exercise due diligence and the ploy to re-litigate the suit.
Outcome
Appeal dismissed
Authorities cited
Cases cited (1)
- Mbogo and Another v Shah
Experimental AI summary generated by a language model, not a lawyer. It may contain errors or omissions and must not be relied on for legal decisions — the full judgment below is the authoritative source.
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