JUDGMENT OF THE COURT
This is an interlocutory appeal arising from the Ruling of the Hon. Mr. Justice Havelock, J, delivered on the 24th day of April, 2014, dismissing the appellants’ application seeking an injunction to restrain the respondent from advertising for sale, disposing of or selling by private treaty or public auction, all that property known as Mombasa Block XXVI/380- Kizingo (the suit property).
The brief background to the Appeal is that, in the year 1992 and subsequently on 10th January, 1996; 25th May, 1998; and 9th January, 2009, Chandulal Virchand Shah, Suni Chandulal Shah and Atul Chandulal Shah, the registered proprietors and chargors of the suit property, variously obtained overdraft, financial accommodations and or other banking facilities from the respondent. They were all secured against the suit property, in addition to joint and several guarantees executed by, Hashmuklal Virchand Shah, (the guarantor). The chargors defaulted on their repayments of the sums adva…