Officequip Services Ltd v Co-operative Bank of Kenya Ltd [2005] KEHC 2927 (KLR)
- Court
- High Court of Kenya
- Case number
- 2927
- Citation
- [2005] KEHC 2927 (KLR)
- Decided
- 11 March 2005
The Plaintiff substantially succeeds in its application and shall also have the costs of this application.
Facts
The Plaintiff applied for a temporary injunction to restrain the Defendant from selling a property and for an account of loan and overdraft facility. The Defendant filed a replying affidavit and grounds of opposition.
Issues
- Validity of notice under Section 69A of the Transfer of Property Act
- Rate of interest charged by the Defendant
Reasoning
The notice was not properly served, thus the Defendant's statutory power of sale had not arisen. The Plaintiff's complaint about increased interest rates is addressed by ordering the Defendant to prepare an account showing the principal sum advanced, interest rate applied, variation and date of variation, amount due, amount paid, amount in default, default interest, and any other charge.
Outcome
Substantial success for the Plaintiff
Orders
- An order restraining the Defendant from selling the Plaintiff's property until a proper notice is served
- An order for the Defendant to prepare an account showing the loan and overdraft facility
Remedies
- Costs of the application
Authorities cited
Legislation (1)
- Civil Procedure Act (Chapter 21, Laws of Kenya)
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