KINZA MOTORS LTD. V TRACK IT LTD (IN RECEIVERSHIP) [2012] KEHC 2065 (KLR)
- Court
- High Court of Kenya
- Case number
- 2065
- Citation
- [2012] KEHC 2065 (KLR)
- Decided
- 4 October 2012
AI Summary
Beta
Machine-generated — may contain errors. Not legal advice.
TypeCivilPostureApplication for leave to dispose of 4 motor vehiclesCoramJ. B. HAVELOCK
Holding
The court granted leave to dispose of the 4 vehicles the Plaintiff has possession of, and ordered that the proceeds be placed in a joint interest-bearing account.
Facts
The Plaintiff obtained an order for the seizure and preservation of several vehicles, but only 2 were traced and repossessed. The receiver managers held 4 other vehicles, which the Plaintiff claims were not released in accordance with the court order.
Issues
- Whether the Plaintiff should be granted leave to dispose of the 4 vehicles it has possession of.
- Whether the vehicles are losing value and should be sold.
- Who should be responsible for disposing of the vehicles and ensuring the highest price is obtained.
Reasoning
The court found that the vehicles are losing value and are wasting assets, and that the Plaintiff is better positioned to sell them. The court ordered the vehicles to be sold and the proceeds placed in a joint account.
Outcome
The Plaintiff was granted leave to dispose of the 4 vehicles.
Orders
- The Plaintiff be granted leave to dispose of by way of sale the 4 vehicles that it now has in its possession.
- The proceeds of sale to be placed in a joint interest-bearing account in the joint names of the advocates on record for the Plaintiff and the Defendant.
Remedies
- Granting leave to dispose of the 4 vehicles
- Placing proceeds of sale in a joint interest-bearing account
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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