RULING OF THE COURT
1. The applicant’s notice of motion dated 25th March 2024 seeks stay of execution of the orders issued by the High Court (Mabeya, J.), on 21st March 2024 and any other consequential orders flowing therefrom in Nairobi HCCOMM No. E649 of 2021 between the parties herein, compelling the applicant to deposit the sum of Kshs.598,708,457 in an interest earning account in the joint names of the advocates for the applicant and the 1st respondent within 15 days from the date of the ruling.
2. In the affidavit in support of the application sworn by Tang Yazhou, the General Manager of the applicant, he stated, inter alia, that on 9th August 2023, Mabeya, J. delivered judgment in favour of the 1st respondent against the applicant in the aforesaid suit in the sum of Kshs. 682,763,004.92 plus costs and interest on account of alleged breach of a sub-contract by the applicant; that on 16th August 2023 the applicant filed an application for stay of execution of the said judgment pend…