RULING OF THE COURT
Nyanza Fish Processors Limited, the applicant in the application before us expressed to be brought under rule 5(2)(b) of the Court of Appeal Rules, has moved this Court for an order of injunction restraining the respondent, Barclays Bank of Kenya Ltd., from advertising or offering for sale or alienating the property known as Kisumu Municipality/Block 3/123 until the hearing and determination of an intended appeal against the ruling of the superior court (Kimaru, J.) given on 17th April, 2009, in its Civil Case No. 40 of 2005.
The basic facts as can be gleaned from the record are that the respondent advanced some money to Afro Meat Company Ltd., a sister Company of the applicant with the same directors and shareholders, on the security of the aforesaid property. The property was given as security upon a resolution of the directors of the applicant. Apparently, the Afro Meat Company Ltd. (the debtor) defaulted in repayment and the respondent took steps to realize its s…