morekazi construction company ltd vs backlite media ltd 2022 tzhccomd 185 18 july 2022

morekazi construction company ltd vs backlite media ltd 2022 tzhccomd 185 18 july 2022

The court found that the Deed of Settlement executed by the parties was enforceable and that the petition was wholly adjusted by the settlement, warranting the abandonment of the preliminary objection and marking the petition as settled on the terms of the Deed of Settlement.

Citation
morekazi construction company ltd vs backlite media ltd 2022 tzhccomd 185 18 july 2022
Parties
Petitioner: Morekazi Construction Company Ltd; Respondent: Backlite Media Limited
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
18 July 2022
Procedural Posture
Miscellaneous Commercial Cause (voluntary Winding Up Petition) / Consent Judgment
Outcome
Petition settled by consent; notice of preliminary objection abandoned.
Legal Topics
Voluntary Winding Up, Settlement, Deed of Settlement
Source Language
English
Company Law Commercial Law Voluntary Winding Up Settlement Deed of Settlement

Case Brief

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Parties

Morekazi Construction Company Ltd

Petitioner

Backlite Media Limited

Respondent

Procedural Posture

Miscellaneous Commercial Cause (voluntary Winding Up Petition) / Consent Judgment

Legal Issues

  1. 1 Whether the petition for voluntary winding up should be settled based on the parties' Deed of Settlement
  2. 2 Whether the notice of preliminary objection should be abandoned

Ratio Decidendi

The court found that the Deed of Settlement executed by the parties was enforceable and that the petition was wholly adjusted by the settlement, warranting the abandonment of the preliminary objection and marking the petition as settled on the terms of the Deed of Settlement.

Court Disposition

Petition settled by consent; notice of preliminary objection abandoned.

Orders

  • The Notice of Preliminary Objection filed in this Court is hereby marked abandoned at the instance of the Respondent.
  • The current petition is marked 'Settled at the Consent of the Parties on the basis of terms contained in their duly signed Deed of Settlement, which shall constitute the Decree/Order of this Court'.