RULING OF THE COURT
This application is brought by way of Notice of Motion dated 16th September, 2011 under Rule 5 (2) (b) of the Court of Appeal Rules (the Rules) for an injunction pending the hearing and determination of an intended appeal. The appeal intended herein arises from the decision of the High Court (Njagi, J) dated 8th September, 2011. Briefly the material facts are as follows:
The applicant company is the registered owner of L. R. No. Nakuru Municipality Block 11/649 and L. R. No. Nakuru Municipality Block 11/650 (“the suit properties”) which are located in Nakuru town. The applicant borrowed funds from Barclays Bank of Kenya, the 1st respondent to develop a shopping mall in Nakuru. The 2nd respondent, Tusker Mattresses, had agreed to lease the property on completion. Construction of the project began in 2007. There was default by the applicant in servicing the loan. It is the applicant’s case that Barclays Bank has threatened to sell the suit property by way of private tr…