Son Hardware Ltd v Development Bank of Kenya Ltd [2018] KEHC 913 (KLR)
- Court
- High Court of Kenya
- Case number
- 913
- Citation
- [2018] KEHC 913 (KLR)
The court ruled that the statutory power of sale in respect of the restructured loan facilities is yet to crystallize, and thus, the plaintiff's claim for an interlocutory injunction is not granted.
Facts
The plaintiff company, Son Hardware Ltd, claims to have paid the loan facilities granted by the defendant bank, Development Bank of Kenya Ltd, but the defendant bank states that the plaintiff is in default of repaying the loan amount. The defendant bank asserts that the statutory power of sale in respect of the restructured loan facilities is yet to crystallize.
Issues
- Whether the plaintiff has a prima facie case with a probability of success.
- Whether the plaintiff might suffer irreparable injury not compensated by way of damages if the injunction is not granted.
- Whether the balance of commercial favours the plaintiff.
Reasoning
The court considered the relevant provisions and legal principles, concluding that the plaintiff's claim for an interlocutory injunction is not supported by the facts and legal principles.
Outcome
The application for an interlocutory injunction is dismissed.
Orders
- The statutory notice dated 26th July, 2017 remains discharged.
Authorities cited
Legislation (3)
- Land Act 2012
- Section 90(1) of the Land Act 2012
- Section 97(2) of the Land Act 2012
Cases cited (5)
- Mrao Ltd v First American Bank of Kenya Ltd & 2 others 2003 eKLR
- Simon Njoroge Mburu v Consolidated Bank of Kenya 2014 eKLR
- Olive Farm Ltd v Family Bank Ltd 2015 eKLR
- Malenya v Housing Finance of Kenya Ltd & another 2003 EA
- Peter Kamau Kiriba v City Council of Nairobi & 3 Others [2015] eKLR
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