- It was noted that the purported sale was irregular, available information suggests that the subject matter of the applications is the suit property known as L.R. NO 158533 in Karen Nairobi. From the record, Samuel had approached the court seeking injunctive orders to restrain the bank from exercising its statutory power of sale. The court delivered its ruling on 10th December 2021 whereby it granted an injunction for 90 days to enable Samuel to pay the outstanding loan and redeem the said property failure of which the defendant was at liberty to complete the sale
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An attempt by Absa Bank to sell off a client’s property in Nairobi’s Karen area over a Ksh. 9.3m loan hit a dead end after the High Court stopped the move in civil case NoE089 of 2019. In a ruling delivered by Judge A. Mabeya of the Commercial and Tax Division on the on 24th March 2023, the judge ruled “I direct the bank to disclose to the plaintiffs and file in Court such disclosure within 14 days of the date of this order. Such disclosure should be by way of the bank statement for the subject loan for the period 1/1/2020 and 10/12/2021”.
Mr Samwel Shimba and Ann Amaya moved to court on the 17th of December 20021 to have the bank stating the amount of outstanding loan facility. This was after the court had directed Samwel Shimba and Ann Amaya to pay the outstanding loan facility within 90 days, however, the bank had refused to issue a letter showing the exact amount owing to enable the applicants to settle the same.
The bank on 4th May 2022 through Samuel Njuguna, opposed the application but admitted that on 11th February 2022, Mr Shimba had requested the bank statement for purposes of settling the outstanding balance. He claimed that the bank was unable to send the information as it had already concluded the sale of the property and closed the loan account.
However, it was noted that the purported sale was irregular, available information suggests that the subject matter of the applications is the suit property known as L.R. NO 158533 in Karen Nairobi. From the record, Samuel had approached the court seeking injunctive orders to restrain the bank from exercising its statutory power of sale. The court delivered its ruling on 10th December 2021 whereby it granted an injunction for 90 days to enable Samuel to pay the outstanding loan and redeem the said property failure of which the defendant was at liberty to complete the sale.
Interestingly Absa was more interested in selling the house than getting Samuel to clear the loan. Judge Mabeya noted that there was an attempt by their Sacco to take over the facilities in the sum of Sh9.3m but the bank refused without any reasonable cause.
