Meru Wood Industries Limited v Absa Bank (K) Ltd & another (Civil Case E011 of 2024) [2026] KEHC 5907 (KLR) (29 April 2026) (Directions) Neutral citation: [2026] KEHC 5907 (KLR) REPUBLIC OF KENYA IN THE HIGH COURT AT MERU CIVIL CASE E011 OF 2024 HM NYAGA, J APRIL 29, 2026 BETWEEN MERU WOOD INDUSTRIES LIMITED ................................................. PLAINTIFF AND ABSA BANK (K) LTD ...................................................................... 1ST DEFENDANT B. GATHIRU T/A REGENT AUCTIONERS ............................... 2ND DEFENDANT DIRECTIONS 1. Further to my ruling delivered on 23/10/2025, the 1st defendant has filed a fresh valuation report prepared by Acumen Valuers Ltd, dated 24/3/2026. 2. In the stated report the open market value of the property in question, being LR NO. Nyaki/ Murathankari/3323 is said to be Kshs.31,000,000/= tabulated as follows: a. The plots Kshs.30,600,000/= b. Improvements Kshs. 400,000/= Total Kshs. 31,000,000/= 3. The mortgage value is assessed at Kshs.26,350,000/= while the forced value has been assessed at Kshs.23,250,000/=. 4. I had given the plaintiff leave to have its own valuer assess the property No. LR No. Nyaki/ Mulathankari/3323 report has been filed. 5. There is no evidence that the loan has been settled and as such the defendant is entitled to exercise its statutory power of sale. https://new.kenyalaw.org/akn/ke/judgment/kehc/2026/5907/eng@2026-04-29 1
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6. I have looked at the latest valuation report and it appears to be consistent with the earlier ones that were issued by the defendant. The forced value is within the range required by the law. 7. I therefore allow the defendant to proceed to exercise its powers of sale as required by the law on the basis of the report dated 24/3/2026. 8. Orders accordingly. DATED, SIGNED AND DELIVERED AT MERU THIS 29TH DAY OF APRIL 2026. ………………………… H. M. NYAGA JUDGE. https://new.kenyalaw.org/akn/ke/judgment/kehc/2026/5907/eng@2026-04-29 2
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