Jaribu Credit Traders Limited v CFC Stanbic Bank Limited [2014] KEHC 8700 (KLR)
- Court
- High Court of Kenya
- Case number
- 8700
- Citation
- [2014] KEHC 8700 (KLR)
AI Summary
Beta
Machine-generated — may contain errors. Not legal advice.
TypeCivilPostureDefendant's application for security for costsCoramJ. KAMAU
Holding
The Defendant's application for security for costs was dismissed with costs to the Plaintiff
Facts
The Plaintiff, Jaribu Credit Traders Limited, filed a suit seeking a sum of Kshs 351,069,355/= against the Defendant, CFC Stanbic Bank Limited. The Defendant claimed that the Plaintiff's properties were subject to proceedings and had been claimed by Suresh Kantaria, leading to the possibility of substantial costs.
Issues
- Whether the Plaintiff should provide security for costs
- Whether the Defendant's application should be granted
Reasoning
The court noted that the Plaintiff had not been shown to be unable to pay the Defendant's costs, and the Defendant's application was not merited.
Outcome
Defendant's application dismissed
Orders
- Defendant's application for security for costs dismissed
Remedies
- Costs to the Plaintiff
Authorities cited
Legislation (2)
- Companies Act 486 (laws of Kenya)
- Civil Procedure Rules, 2010
Cases cited (4)
- Pearson & Another vs Naydler &Others [1977] 3 All ER 531
- Northampton Coal, Iron and Waggon Company Limited vs Midland Wagon Company (1878) Ch. D (Vol VII) 500
- Sir Lindsay Parkinson & Co Ltd vs Triplan Ltd [1973] 2 All ER 273
- Wetfarm Ltd vs Amro Bank (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.
Loading judgment…