by Allen Waiyaki Gichuhi C.Arb SC and Frankline Otieno | Jun 28, 2024 | Legal update
BACKGROUND The Supreme Court has this morning delivered a decision in Stanbic Bank Kenya Limited v Santowels Limited Supreme Court Petition No. E005 of 2023 on the question on the interest rates regime in the banking sector. The writers were involved in the matter...
by Allen Waiyaki Gichuhi C.Arb SC, Caxstone Kigata and Frankline Otieno | Aug 24, 2022 | Legal update
“From the foregoing, the Court of Appeal was alive to the fact that the rule was concerned with public interest. In my view, the rule was introduced in our Laws to tame the appetite of Lenders who had made recovery of interest on advances a cash cow. Simply put, the...
by Allen Waiyaki Gichuhi C.Arb SC | May 9, 2022 | Legal update
“He may not have been a model guarantor but, like Shakespeare’s King Lear, he definitely was a man more sinned against than sinning. And he was entitled to the aid of the law.” Extract from judgment in Nairobi Civil Appeal No. 80 of 2017 Basil Criticos vs. National...
by Allen Waiyaki Gichuhi C.Arb SC | Feb 15, 2022 | Legal update
Creditors love defaulting borrowers; they are the best source of profits. A borrower takes a KES 21 million loan which, having failed to service, balloons to the sum of KES 103 million by the time the creditor initiates recovery. However, in respect of banks,...
by Allen Waiyaki Gichuhi C.Arb SC and Caxstone Kigata | Nov 16, 2021 | Legal update
“The kind of fasting I want is this: Remove the chains of oppression and the yoke of injustice, and let the oppressed go free” so says Isaiah 58:6. A Garnishee is defined as a party who is in possession of money or property of a debtor and has been notified by a court...
