RULING OF THE COURT
In the Notice of Motion dated 24th July 2017, the applicant, Landbank Real Estate Investment Trust Limited is seeking to review the decision of this Court rendered on 9th June 2017 wherein this Court upheld an order of injunction by the High Court which restrained Standard Chartered Bank (Kenya) Limited, (the Bank) from paying out monies to it on account of a Bid Bond No. 20102115846 issued on 9th July 2015 (the Bid Bond) that had been secured by Sichuan Huashi Enterprises Corporation East Africa Limited, the respondent.
The background to the application before us is that on 3rd August 2015, the respondent filed a Notice of Motion against the applicant, in the High Court seeking a temporary injunction to restrain the applicant from illegally and irregularly calling in and/or receiving payments from the Bank in respect of the Bid Bond, pending the hearing and determination of the application; and a temporary injunction restraining the applicant from illegally and irr…