RULING OF NAMBUYE JA.
The applicants herein moved to the seat of justice vide Nairobi Milimani Commercial and admiralty division Civil Suit No.682 of 2012 brought against the respondent seeking various reliefs among them protection of LR. No. Nairobi/Block 106/97 (the Dam Property) and LR. No. Meru/Municipality /Block/202 (the Meru property) which had been charged to the respondents to secure a loan facility in favour of the first applicant. The loan funds were allegedly partly advanced. The applicants defaulted on the loan repayment. The respondent moved to exercise its statutory power of sale over the subject properties.
The applicants upon filing of the plaint to premise on the plaint an interim application seeking an injunctive relief to restrain the respondent from exercising its power of sale. The interim application was opposed by the respondent. It was heard on its merits resulting in the ruling sought to be impugned dated 30th day of January, 2013. Two crucial orders were made,…