RULING OF THE COURT
This is an application by Bulk Medicals Ltd. (hereinafter “the applicant”) for an injunction pending the hearing and determination of an intended appeal from the ruling of the superior court (Kasango J) delivered on 27th October 2006 that court dismissed the application of the applicant before her.
The respondents to the application in the superior court and to the application in this Court are Paramount Universal Bank Ltd. (hereinafter “the Bank”) and Harveen Gadhoke and Daniel M. Ndonye (hereinafter referred to collectively as “the Receivers”). The Receivers had been appointed by the Bank on 10th May 2006 pursuant to powers contained in the debenture.
The application in the superior court sought orders, firstly, for the issue of a temporary injunction restraining the Receivers from taking over the control, running or management of the applicant or any of its assets, business operations, and bank accounts and secondly, to restrain the Bank and the Receivers from sell…