Mahadi & 3 others v Premier Bank Kenya Limited (Previously Trading as First Community Bank Limited) (Commercial Case E556 of 2023) [2024] KEHC 2432 (KLR) (Commercial and Tax) (1 March 2024) (Ruling)
- Court
- High Court of Kenya
- Case number
- 2432
- Citation
- [2024] KEHC 2432 (KLR)
- Decided
- 1 March 2024
Summary at a glance
TypeCommercial CasePostureApplication for Interlocutory InjunctionCoramMN MWANGI
The application is dismissed with costs.
Facts
The plaintiffs (Mahadi & 3 others) claim to have settled a USD 15 million letter of credit facility with the defendant (Premier Bank Kenya Limited) through a tripartite financing agreement. The defendant then issued statutory notices for the sale of the plaintiffs' properties, which the plaintiffs contest as unfair.
Issues
- Whether the plaintiffs have satisfied the requisite conditions to warrant an interlocutory injunction against the defendant.
- Whether the plaintiffs stand to suffer irreparable damage that cannot be adequately compensated by an award of damages.
Reasoning
The court finds that the plaintiffs do not have a prima facie case against the defendant and that the defendant's actions are justified as loan facilities are obtained from bank deposits from the public.
Outcome
Application dismissed
Authorities cited
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