MWIHANGIRI FARMERS LIMITED
V.
ECUMENICAL DEVELOPMENT CO-OPERATIVE SOCIETY (E.D.C.S.)

JUDGMENT OF THE COURT

APPEAL

1. This is a judgment in the appeal filed by Mwihangiri Farmers Ltd (the appellant) against the ruling of the High Court (Martha Koome, J) as she then was) delivered on 12^th November 2010 in Nairobi (Milimani) commercial Courts Civil Case No.2026 of 2009 dismissing an application by the appellant against Ecumenical Development Co-operative Society (the respondent) seeking to set aside a consent decree dated 6^th June 2009.

BACKGROUND

2. The litigation that gave rise to the suit in the High Court and eventually to this appeal arose in the following circumstances. The appellant sought and obtained from the respondent financial accommodation to develop in Southern Kinangop a milk cooling plant and related structures. Following a loan agreement dated 16^th September 1996, the respondent advanced to the appellant in US Dollars a sum equivalent to Kshs.17,863,650/. Under the agreement, the appellant was to repay the loan with interest at the rate of 9% per annum. It s…