The Supreme Court will now determine whether a 35-year-old Sh32 billion battle between Standard Chartered Bank and clothes maker, Manchester Outfitters, raises issues of public importance to be admitted for hearing.
On Wednesday, a five-judge bench composed of Justices Mohammed Ibrahim, Smokin Wanjala, Njoki Ndung'u, Isaac Lenaola, and William Ouko heard rival submissions from the bank's lawyer George Oraro and Machester's lawyer Phillip Nyachoti on whether the case went beyond the two parties interests or not.
Nyachoti on one hand agued that there was nothing novel or transcending to the interests of the banking industry and borrowers.
He said that the dispute between his client and the lender had been settled before and in many other cases, relating similar issues. "The matters herein concerning concerning the judgment is purely matters of a dispute between the first and second respondent and on the other hand the petitioner and the third respondent on the other, on their own distinct and peculiar transactions as set out hereinabove and therefore does not transcend beyond the parties.
