RULING OF THE COURT
This is an application brought under Rule 5(2)(b) of this Court’s Rules. The applicant bank seeks two orders, namely:- 1. There be a stay of execution of the Order of the High Court dated 9th December, 2010 pending the hearing and determination of the intended appeal.2. The Receivers and Managers appointed by the applicant be put back in possession of the assets and business of the respondent pending the hearing of the intended appeal. The applicant is a bank and the respondent is a limited liability company involved in a variety of businesses which include, quarrying, mining, excavation, supply of ballast and limestone and whole sale and retail of motor vehicle tyres. The relationship which gave rise to the subject matter of the application started in 2007. By a letter dated 20th August 2007 the applicant bank, at the respondent’s request offered the respondent various credit facilities totaling Kshs.570,000,000. On 17th December, 2007 the facility were increased t…