NA TZHC Dar es Salaam2

NA TZHC Dar es Salaam2

The Settlement Agreement and share transfer were voluntarily executed and are valid and enforceable. No evidence of duress or illegality was proved to the requisite standard. The 1st Defendant paid for his shares. The Plaintiff interfered with the Second Defendant's business, entitling the Second Defendant to general damages, declaration, injunction, and costs.

Citation
NA TZHC Dar es Salaam2
Parties
Plaintiff: Mark Foley; 1st Defendant: Robert Thomson; 2nd Defendant: Construction Equipment Africa Ltd
Court
TZHC
Jurisdiction
Tanzania
Judgment Date
1 January 2007
Procedural Posture
Commercial Case / Final Judgment
Outcome
Plaintiff's suit dismissed with costs; counterclaim by Second Defendant succeeds in part.
Legal Topics
Shareholding, Economic Duress, Settlement Agreement, Counterclaim, General Damages
Source Language
English
Company Law Contract Law Civil Procedure Shareholding Economic Duress Settlement Agreement Counterclaim General Damages

Case Brief

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Parties

Mark Foley

Plaintiff

Robert Thomson

1st Defendant

Construction Equipment Africa Ltd

2nd Defendant

Procedural Posture

Commercial Case / Final Judgment

Legal Issues

  1. 1 Whether the Settlement Agreement executed and recorded in Civil Case No. 127 of 2004 is illegal and null and void
  2. 2 Whether the sale of the Plaintiff's 50% shareholding in the Second Defendant Company to the 1st Defendant was illegal and null and void
  3. 3 Whether the 1st Defendant has not paid for his 50% issued shares in the Second Defendant Company

Ratio Decidendi

The Settlement Agreement and share transfer were voluntarily executed and are valid and enforceable. No evidence of duress or illegality was proved to the requisite standard. The 1st Defendant paid for his shares. The Plaintiff interfered with the Second Defendant's business, entitling the Second Defendant to general damages, declaration, injunction, and costs.

Court Disposition

Plaintiff's suit dismissed with costs; counterclaim by Second Defendant succeeds in part.

Orders

  • Plaintiff's suit dismissed with costs
  • Second Defendant awarded general damages of Tshs.30,000,000 with interest at 7% per annum from date of judgment to full payment