ALLAN S. REYNOLDS v TWIGA CHEMICALS INDUSTRIES LTD [2008] KEHC 756 (KLR)

Facts

The plaintiff (Reynolds) applied for a stay of execution of a decree for KShs. 14,203,040/50 pending appeal. The defendant (Twiga Chemicals Industries Ltd) sought to have the condition of depositing the decretal sum in an interest-earning account removed, or alternatively, to be allowed to provide a bank guarantee instead.

Issues

1. Whether the condition of depositing the decretal sum in an interest-earning account should be removed
2. Whether the defendant should be allowed to provide a bank guarantee instead

Reasoning

The court considered the supporting affidavit and the grounds of opposition, but found no new and important matter or evidence, no mistake or error apparent on the face of the record, and no sufficient reason for the application.

Outcome

The court allowed the alternative prayer and ordered the defendant to provide a bank guarantee instead of depositing the decretal sum.