Mwawako Shipping Agencies Limited & another v Guaranty Trust Bank (Kenya) Limited (formerly Fina Bank Limited [2016] KEELC 587 (KLR)
- Court
- Environment & Land Court
- Case number
- 587
- Citation
- [2016] KEELC 587 (KLR)
- Decided
- 16 September 2016
AI Summary
Beta
Machine-generated — may contain errors. Not legal advice.
TypeCivilPostureAppeal from a decision of the Environment and Land CourtCoramPresiding Judge
Holding
The Court found in favor of the Plaintiffs, ordering the Defendant to undertake a forced sale valuation before selling the property.
Facts
The Plaintiffs, Mwawako Shipping Agencies Limited and Peter Oseko Matang, applied for a temporary injunction against the Defendant, Guaranty Trust Bank (Kenya) Limited, to prevent the sale of their property. The Plaintiffs claim the Defendant has not properly valued the property before selling it.
Issues
- Whether the Defendant has the right to sell the property without a forced sale valuation
- Whether the Defendant has breached its duty of care to the Plaintiffs
Reasoning
The Court ruled that the Defendant must first obtain a forced sale valuation to determine the true current market value of the property, as the Plaintiffs argued the Defendant has not done so.
Outcome
In favor of the Plaintiffs
Orders
- The Defendant must undertake a forced sale valuation for the property
- The Defendant must provide cost of this application
Remedies
- Temporary injunction restraining the Defendant from selling the property
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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