PRUDENTIAL BANK LIMITED vs . GYAMFUA ABABIO INVESTMENTS LIMITED & OTHERS

Before me is an application for an order for reserved price for the auction of the 1st and 3rd defendants’/Judgment Debtors’/Respondents’ immovable property in fulfilment of a judgment debt. This application raises procedural issues which border on execution of judgments. The background to the application is narrated below: On 3rd November, 2016 parties to the suit filed terms of settlement and on 8th November, 2016 the same was adopted by the court as consent judgment. Upon default of the terms of settlement by the Defendants/Judgment Debtors (hereinafter called the Respondents), the Plaintiff/Judgment Creditor (hereinafter called the Applicant) filed an Entry of Judgment on 9th June, 2017 and commenced the execution process by issuing a Writ of fierifacias (fifa) to attach two immovable properties which were used as security for the various facilities advanced to the Respondents. Thereafter, the two immovable properties described as an industrial property and a Hotel were both...