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…The Appellant consequently filed a counterclaim seeking recovery of the outstanding loan balance after crediting the proceeds realized from the sale of one of the repossessed tippers. 4.…

…loan. 5.…

…Obina which expressly required the 2 nd respondent and another to clear the balance of the outstanding loan owing to the Appellant within 60 days of that decision.…

…loan. 9.…

…Additionally, that as of 3rd November 2022, the applicants had an outstanding loan balance and arrears totaling Kshs. 899,403/=.…

…Even if this were true, the relevant amount in dispute is the outstanding loan balance.…

…The plaintiffs contend that the said facility was, or ought to have been, insured by the 2nd defendant, BRITAM, through a policy that would cover the outstanding loan in the event of the borrower’s demise.…

…According to the plaintiffs, following the death of Paul Kimani Muna, the 1st defendant, the Bank, continued to demand payment of the outstanding loan from the plaintiffs and issued a statutory notice in respect of the suit…

…loan balances. 7.…

…As at 30th April 2021, the outstanding loan balance stood at Kshs. 553,594 which including some disputed and unexplained legal fees. 14.…

…The plaintiff stated that he had paid the outstanding loan amount of Kshs.6,000,000/-, comprising the loan amount plus compound interest as at 31/12/2015. 7.…

…The defendant emphasized that it had no obligation to accept the plaintiff’s payment of the outstanding loan balance other than as provided for in the charge. 15.…

…Now, going by the correct calculation of the outstanding loan as per the schedule, it follows that upon payment of KShs 700,000/= after three months, the Borrower still had a balance to pay.…

…He did not and therefore the calculation of the outstanding loan reverted to the normal interest of 2.5% as per the second table of the schedule provided by the Borrower.…

…Thus, the Plaintiff seeks damages equal to the outstanding loan amount of Kshs 106,667,295.21 as of 16 th February 2020, with interest, plus costs of the suit.…

…The Defendant states that even if negligence were proven, the Plaintiff''s claim for the full outstanding loan amount is excessive.…

…He noted that the amount secured by the charged property is Kshs.450,000,000/=, whereas the total outstanding loan amount as at 2nd February, 2024 was Kshs.1,099,130,152.07.…

…Therefore, even if the suit property was to be sold at Kshs.600,000,000/=, the proceeds of the sale would still be insufficient to clear the outstanding loan balance owed to the 1st defendant by the plaintiffs. 22.…

…(v) The Honorable Magistrate erred in finding that the motor vehicle KCH 534Y be released unconditionally despite being an outstanding loan.…

…(vi) The Honorable Magistrate erred in failing to consider that the Respondent had by conduct admitted that the borrower had defaulted and ready to liquidate the outstanding loan.…

…I do note however, that, the plaintiffs claim that there is no outstanding loan balance.…

…The 1st defendant claims there is outstanding loan balance of Kshs. 8,616,397.35. 4.…

…The appellant cannot therefore avoid liability for the same by attempting to hide behind the claim of an outstanding loan which was not the subject of litigation before the learned honorable magistrate.…

…DETERMINATION The appellant cannot be released from liability for the sum of Ksh 1,300,000 on account of settling an outstanding loan.…

…The Plaintiff further stated that the 1st defendant has now issued the statutory notice demanding for the ‘outstanding loan arrears’ which arrears are unconscionable and illegal.…

…The Plaintiff stated that having guaranteed the 2nd the loan in question is willing to pay ‘outstanding loan arrears’ that are lawful and legal.…

…The plaintiff and the 3 rd defendant chose to go by private treaty on understanding that the sale would be sufficient to offset all the outstanding loan.…

…loan.…

…loan.…

…North Sakwa/Maranda/1123 which still has an encumbrance due to an outstanding loan which is yet to be cleared.…

…That the 1st Respondent having been issued with a grant for special purposes to manage and operate the business of the deceased has failed to service the outstanding loan.…

…That the 2nd and 3rd Respondent were issued with a grant of letters of administration intestate on 7th October, 2015 and they too have made no efforts to service the outstanding loan.…

…loan balance amount as at 4th December, 2017 arising from a loan agreement made on the 29th March, 2012 between the Appellant and the 1st Respondent, in which, vide a guarantee dated 29th August, 2012 the 2nd Respondent…

…Ksh.513,372/- being the total outstanding loan balance as at 4th December, 2017 together with contractual interest at 5.75% per month on this outstanding loan balance as from 4th December, 2017 plus a further contractual…

…loan balance amount as at 4th December, 2017 arising from a loan agreement made on the 29th March, 2012 between the Appellant and the 1st Respondent, in which, vide a guarantee dated 29th August, 2012 the 2nd Respondent…

…Ksh.513,372/- being the total outstanding loan balance as at 4th December, 2017 together with contractual interest at 5.75% per month on this outstanding loan balance as from 4th December, 2017 plus a further contractual…

…As a result, the appellant proceeded to instruct its current Advocates on record to demand for the outstanding loan balance of Kenya Shillings Two Hundred and Seven Thousand (Kshs. 207,000/=) which demand was equally not…

…The appellant submitted that as at 11th November, 2022, the outstanding loan amount was Kenya Shillings Two Hundred and Seven Thousand (Kshs. 207,000/=). 16.…