Equip Agencies Limited v I&m Bank Limited
The bottom line
#The Court of Appeal refused to stop I&M Bank from selling Equip Agencies' charged properties, ruling the appeal had no chance of success.
What this practically means
#Executive summary
#Key legal issues
#Arguability of the intended appeal
The intended appeal was found frivolous and not arguable because the dispute is res judicata, the debt is admitted, and a Deed of Settlement of 10th June 2021 has not been honoured
The court reviewed the multiplicity of rulings and judgments issued by the High Court and the Court of Appeal since 2017 in the same dispute, including dismissals of similar injunction applications by Nzioka, Mwita and Mulwa JJ., judgments by Majanja J. pursuant to a Deed of Settlement, and a withdrawn appeal. It concluded the applicant's indebtedness was admitted and expressly acknowledged in the Deed of Settlement, making the res judicata ground unanswerable and the intended appeal not arguable.
Nugatory-ness of the intended appeal
The nugatory limb fails because the value of the suit properties is known and the respondent bank can pay damages if the appeal succeeds
Assuming without deciding that the intended appeal was arguable, the court applied the second limb of the stay test. The suit properties have ascertainable value and the respondent is a reputable commercial bank capable of satisfying any damages award, so the appeal would not be rendered nugatory if the sale proceeded and the applicant ultimately succeeded.
Legal principles established
#- An applicant for stay of execution pending an intended appeal must demonstrate both that the appeal is arguable and that it will be rendered nugatory unless the orders are granted
- Where the respondent is a reputable commercial bank able to pay damages, a successful intended appeal will not be rendered nugatory for want of an injunction against the statutory power of sale
Court orders
#- 1.The application for stay of execution and injunction pending an intended appeal is dismissed
- 2.The applicant shall bear the costs of the application
- On appeal from
- High Court of Kenya
- Nairobi HCCOMM No. 420 of 2016
- Jurisdiction invoked
- Inherent appellate jurisdiction to grant stay of execution pending an intended appeal to the Court of Appeal (rule 5(2)(b) of the Court of Appeal Rules framework invoked through the two-limb test)
Key timeline
#Practical implications
#Frequently asked questions
#Later judgments citing this (1)
#Judgments in the corpus that rely on this one. Where the Court said how it treated the authority, that is shown.
- Equip Agencies Limited & 4 others v I&m Bank Limited & 1 other[2026] KECA 1526 (KLR)31 Jul 2026
Cite this brief
#Cite this brief
Caselaw, "Equip Agencies Limited v I&m Bank Limited", Case Analysis (2025). Nairobi Civil Application (Notice of Motion dated 25th February 2025) arising from Nairobi HCCOMM No. 420 of 2016. Source: https://new.kenyalaw.org/akn/ke/judgment/keca/2025/585/eng@2025-03-28
Suggested citation format for research notes or client memos. Always verify the original judgment before relying on any point.