Olkasasi Limited v Equity Bank Limited [2015] KEHC 5932 (KLR)
- Court
- High Court of Kenya
- Case number
- 5932
- Citation
- [2015] KEHC 5932 (KLR)
- Decided
- 26 March 2015
AI Summary
Beta
Machine-generated — may contain errors. Not legal advice.
TypeCommercialPostureApplication for injunction restraining mortgagee from exercising power of saleCoramAngote, Gikonyo, Kasango
Holding
The court restrained the mortgagee from exercising its power of sale.
Facts
The Respondent Equity Bank Limited advanced a loan of Kshs. 5,600,000 to Unique Distributors Kenya Limited, secured by a legal charge on the Applicant's property. Despite the borrower's default, the Respondent notified the Applicant of the exercise of its power of sale on 25th March 2014, setting the sale for 30th May 2014.
Issues
- Compliance with the Land Act in the exercise of the power of sale
- Notification of sale and valuation
Reasoning
The court found that the Respondent did not comply with the Land Act in the exercise of the power of sale and that the Notification of sale was invalid.
Outcome
Application granted
Orders
- Restraining the mortgagee from exercising its power of sale
Authorities cited
Legislation (1)
- Land Act No. 6 of 2012
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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