The Application dated 10.08.2021 by the Defendant is for stay of execution pending the hearing and determination of the intended appeal form the judgment of Tuiyott J., dated 22.02.2021. The only issue for resolution is the nature and extent of the security as required by Order 42 rule 6 of the Civil Procedure Rules. Counsel for the Applicant proposes security of KES. 3,000,000.00 in the form of a bank guarantee. The Defendant insists that the Defendant should provide security for the full amount of KES. 72,000,000.00. Having considered the interests of both sides, I am inclined to grant an order of stay of execution pending the hearing and determination of the appeal on the following terms:
(a) The Defendant shall provide security for the sum of KES 20,000,000.00 in favour of the Plaintiff in the form of a Bank Guarantee from a Reputable Bank within thirty (30) days from the date hereof.
(b) In default of compliance with the aforesaid order, the stay shall stand discharged and the Plaintiff shall be at liberty to execute.
(c) Upon compliance with the aforesaid order, the stay shall remain in force for a period of one year from the date hereof unless otherwise extended by this court or the Court of Appeal.
(d) The costs shall be in the appeal.
(e) The firm of Gitonga and Advocates LLP if granted leave to come on record in place of Kibanya Kamau and Associates Advocates.
DATED and DELIVERED at NAIROBI this 16th day of AUGUST 2021
D. S. MAJANJA
JUDGE