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The Commercial High Court held that Tuyaerts’ mandate as GES Ltd managing director had not expired and upheld exclusion of non-shareholders from the general meeting.
The court held that Ndahayo was entitled to the return of his shares and interest because, at the time of his resignation, no loss had been established by the company, and the company failed to promptly pay him. The interest rate of 18% was justified based on prevailing bank rates, and damages were warranted due to the prolonged deprivation of his rights. The appeal was dismissed except for a modification of the legal fees awarded.
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