ibrahim ally kigombe vs mara microfinance co ltd 2 othersa 2024 tzhc 303 15 february 2024

The applicant, as decree holder, established sufficient grounds for lifting the corporate veil since the 1st respondent (company) failed to satisfy the decree and its directors did not cooperate in identifying assets, justifying execution against the directors.

Citation: ibrahim ally kigombe vs mara microfinance co ltd 2 othersa 2024 tzhc 303 15 february 2024
Parties: Applicant: Ibrahim Ally Kigombe; 1st Respondent: Mara Microfinance Co. Ltd; 2nd Respondent: Mary Sange; 3rd Respondent: Paulo Mayanja
Court: TZHC
Jurisdiction: Tanzania
Judgment Date: 15 February 2024
Procedural Posture: Application to Lift Corporate Veil / Ruling on Application
Outcome: application allowed
Legal Topics: Lifting Corporate Veil, Execution of Decree, Director Liability
Source Language: English

Company Law Civil Procedure Lifting Corporate Veil Execution of Decree Director Liability

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Parties

Ibrahim Ally Kigombe

Applicant

Mara Microfinance Co. Ltd

1st Respondent

Mary Sange

2nd Respondent

Paulo Mayanja

3rd Respondent

Procedural Posture

Application to Lift Corporate Veil / Ruling on Application

Legal Issues

1 Whether sufficient grounds exist to lift the corporate veil of the 1st respondent to execute a decree against its directors

Ratio Decidendi

Court Disposition

application allowed

Orders

Corporate veil of 1st respondent lifted to permit execution of decree against 2nd and 3rd respondents as directors
No order as to costs