MABANI SEVEN COMPANY LIMITED (PLAINTIFF) vs. STAR ASSURANCE COMPANY LIMITED & 4 ORS. (DEFENDANTS)

This is an application filed by the 2nd and 4th Defendant/Applicant seeking for a Stay of Execution of the summary judgment made by this Court on 18th February 2019. I have read the Application and the various affidavits filed by the parties. I have also considered the oral submissions made by both Counsel in support and in opposition to the application. A brief summary of the facts giving rise to this application are that the Plaintiff/Judgment/Creditor/Respondent herein issued a writ of summons against the 5 Defendants asking for the following reliefs; i. Payment of the sum of USD8,627,829.93 which is the sum outstanding and due the Plaintiff on the Advanced Payment Bond SAC-01-APB-15-02531-USD-P. ii. Interest on the said USD 8, 627,829.93 from 16th May 2017 till date of final payment at the prevailing commercial rate. iii. Payment of the sum of USD 3, 116,690.26 which is the sum outstanding and due the Plaintiff on the Advanced Payment Bond SAC-01-APB-15-02531-USD-P. iv. I...