JUDGMENT OF THE COURT
This is an appeal from the ruling of the superior court (Ole Keiwua J, as he then was) delivered on 15th December 1998 in which the plaint filed in the superior court on 17th November 1994 by the appellant, Crescent Construction Company Limited, against the respondent, Delphis Bank Limited, was struck out on grounds that it disclosed no cause of action and it was also an abuse of the court process and vexatious.
The record shows that prior to 26th November 1992, the appellant was a customer of a bank, then existing and carrying out its operations in Kenya, and known as Bank of Credit and Commerce International (Overseas) Limited (BCCI). The two had some dealings on banker – customer basis. Immediately before 26th November, 1992, BCCI ceased to operate in Kenya and in all other countries and the respondent claimed that BCCI had transferred to it (respondent) its actionable claims, loan agreements, mortgages and chargers over properties which were the subject matter …