knowles lumambo vs mattheus de klerk cassava starch of tanzania and another 2021 tzhccomd 3399 19 november 2021

knowles lumambo vs mattheus de klerk cassava starch of tanzania and another 2021 tzhccomd 3399 19 november 2021

Given the company's ongoing viability and uncontested application, it is prudent to extend the administrator's tenure and require quarterly performance reports to facilitate the company's objectives and efficient management.

Citation
knowles lumambo vs mattheus de klerk cassava starch of tanzania and another 2021 tzhccomd 3399 19 november 2021
Parties
Applicant: Knowles Lumambo; 1st Respondent: Mattheus De Klerk; 2nd Respondent: Cassava Starch of Tanzania Corporation Ltd
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
19 November 2021
Procedural Posture
Miscellaneous Commercial Cause (companies Act Petition) / Ruling on Application to Vary Administration Order
Outcome
Application granted
Legal Topics
Administration Order Extension, Company Rescue, Court Supervision of Administrators
Source Language
English
Company Law Insolvency Administration Order Extension Company Rescue Court Supervision of Administrators

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Parties

Knowles Lumambo

Applicant

Mattheus De Klerk

1st Respondent

Cassava Starch of Tanzania Corporation Ltd

2nd Respondent

Procedural Posture

Miscellaneous Commercial Cause (companies Act Petition) / Ruling on Application to Vary Administration Order

Legal Issues

  1. 1 Whether the administration order for the 2nd Respondent should be varied and the administrator's tenure extended
  2. 2 Whether the administrator should be required to submit quarterly reports to the Court

Ratio Decidendi

Given the company's ongoing viability and uncontested application, it is prudent to extend the administrator's tenure and require quarterly performance reports to facilitate the company's objectives and efficient management.

Court Disposition

Application granted

Orders

  • The order dated 29th May 2020 is varied; the administrator's tenure is extended for one year from the date of this ruling.
  • The administrator is ordered to submit quarterly reports to the Court on performance and discharge of duties.