JUDGMENT
This is an appeal from the ruling of the High Court (Sergon, J.) dismissing the appellants’ chamber summons dated 2nd April 2014 seeking interalia to strike out Miscellaneous Civil Application No. 42 of 1997 with costs.
The salient background of this matter is that the 2nd respondent Mumwe Investments Limited secured loans from Kenya Capital Corporation Limited (KENYAC) and the Industrial Development Bank Limited (IDB) by charging various properties owned by its directors. The said parties developed a scheme where some of its properties would be converted into residential properties and subdivided into plots to be sold to members of the public. The 2nd respondent subsequently entered into agreements with its financiers, whereby the money loaned would be repaid with proceeds from the sale of the plots.
The appellants, who represented the 2nd respondent, would obtain the title documents and partial discharges from the financiers after giving a professional undertaking to pay to th…