East Africa Ventor Co. Ltd v Agricultural Finance Co-op Ltd & another [2017] KEELC 253 (KLR)
- Court
- Environment & Land Court
- Case number
- 253
- Citation
- [2017] KEELC 253 (KLR)
- Decided
- 17 October 2017
The court found that the defendant did not serve a statutory notice under section 90(2) of the Land Act, and there was no gross undervaluation of the suit properties. The court also found that the respondent's right of statutory power of sale had not yet accrued.
Facts
The plaintiff applied for a financial facility of Ksh. 10,000,000 from the defendant, charging the suit land as security. The defendant served a statutory notice demanding repayment of Ksh. 11,878,860 and three months' notice for full payment.
Issues
- Whether the defendant served the plaintiff with a statutory notice under section 90(2) of the Land Act.
- Whether there was gross undervaluation of the suit properties by the defendants.
- Whether the respondent's right of statutory power of sale has accrued.
Reasoning
The court ruled that the defendant did not serve a statutory notice under section 90(2) of the Land Act, and there was no gross undervaluation of the suit properties. The court also found that the respondent's right of statutory power of sale had not yet accrued.
Outcome
The application for interim injunction was dismissed.
Authorities cited
Legislation (2)
- Land Act, 2012
- Agricultural Finance Act
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