RULING OF THE COURT
The background to the application for stay of execution before us is the exercise, by the 1st respondent, Barclays Bank of Kenya Limited, of its statutory power of sale by which it sold and transferred L.R. No 2/653Kilimani, Nairobi (the suit property) to the 2nd respondent, Peterson Ogino Ongaro. On or about 7th May 1997, the applicant, Peter Kamau Ikigu had charged the suit property in favour of the 1st respondent to guarantee payment of a loan of Kshs 3 million advanced to Kanconsult Limited. Upon default in payment of the loan, the 1st respondent, in the exercise of its statutory power of sale, sold by private treaty and transferred the suit property to the 2nd respondent on 6th January 2004.
Aggrieved by the sale, the applicant filed HCCC No 719 of 2003 in which he sought, among others, a declaration that the sale and transfer of the suit property to the 2nd respondent and his subsequent eviction from the suit property were illegal, null and void. He further pr…