Yakubali Mubarakai Muridkhan & another v Jubilee Insurance Co. Ltd. & another [2008] KEHC 990 (KLR)
- Court
- High Court of Kenya
- Case number
- 990
- Citation
- [2008] KEHC 990 (KLR)
AI Summary
Beta
Machine-generated — may contain errors. Not legal advice.
TypeCommercial SuitPostureChamber Summons filed by plaintiffs seeking a temporary injunction and other reliefCoramJ.K. SERGON
Holding
The plaintiffs have shown a prima facie case with a probability of success regarding the interest rate increase and the defectiveness of the mortgage document. The order of injunction is allowed.
Facts
Plaintiffs filed a plaint seeking a declaration that the interest charged by the defendants is illegal and excessive, and an order restraining the defendants from selling the property. The defendants denied the plaintiffs' claim and filed a defence.
Issues
- Validity of the interest charged at 24% p.a.
- Defectiveness of the mortgage document
- Deficiency in the notice given by the defendants regarding the interest rate increase
Reasoning
The defendants did not give prior notice of the interest rate increase, which is required by law. The plaintiffs have a prima facie case with a probability of success regarding the defectiveness of the mortgage document.
Outcome
The Chamber Summons dated 11th June 2007 is allowed.
Orders
- An order of injunction restraining the defendants from advertising, offering for sale, selling, alienating, repossessing, or disposing the property
Remedies
- Temporary injunction to prevent the defendants from selling the property
Authorities cited
Legislation (3)
- Central Bank of Kenya (Amendment Act) 2000
- Banking Act
- Registered Land Act
Cases cited (1)
- Margaret Njeri Muiruri (legal representative of the Estate of Joseph Muiruri (deceased)) =vs= Bank of Baroda (K) Ltd Civil Appeal No. 9 of 2001 (Unreported)
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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