NANCY JERUTO BOMETT v HOUSING FINANCE COMPANY LTD [2007] KEHC 2858 (KLR)
- Court
- High Court of Kenya
- Case number
- 2858
- Citation
- [2007] KEHC 2858 (KLR)
- Decided
- 28 March 2007
The Court allows the application for a temporary injunction, except for costs, as the Applicant has raised sufficient issues that need careful examination.
Facts
The Applicant Nancy Jeruto Bomett charged the suit property to the Respondent Housing Finance Company Ltd for a loan of Shs.378,000 with an interest rate of 16.5% per annum. The Respondent unilaterally increased the instalment to Shs.6,168 and the interest rate to 21% per annum, resulting in a total sum payable of Shs.1,090,733 as of 31st January, 2006.
Issues
- Whether the interest rate charged, together with 'interest on interest' and 'other' charges were lawful and in accordance with the mortgage instrument.
- Whether the Applicant has presented a prima facie case with a probability of success.
Reasoning
The Court finds that the Applicant has presented a prima facie case with a probability of success and that the suit property is her residential property, making damages an inadequate compensation. The balance of convenience tilts in her favour.
Outcome
The application for a temporary injunction is allowed.
Orders
- Allow the application for a temporary injunction.
- Except for costs, the application is allowed.
Remedies
- Temporary injunction to restrain the Respondent from selling the suit property pending the hearing and determination of the Appeal.
Authorities cited
Legislation (3)
- Civil Procedure Rules
- Central Bank of Kenya Act
- Banking Act
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