red dot distributors limited vs darworth limited 2021 tzhccomd 3316 6 august 2021

The Deed of Settlement executed by both parties discharges the claims forming the basis of the winding up petition; the court adopts the settlement as its judgment and decree.

Citation: red dot distributors limited vs darworth limited 2021 tzhccomd 3316 6 august 2021
Parties: Applicant: Red Dot Distributors Limited; Respondent: Darworth Limited; Interested Party: CRDB Bank
Court: TZHCCOMD
Jurisdiction: Tanzania
Judgment Date: 6 August 2021
Procedural Posture: Petition for Winding Up / Ruling on Settlement After Preliminary Objection
Outcome: petition marked settled at the compromise of the parties
Legal Topics: Winding Up, Settlement, Preliminary Objection
Source Language: English

Company Law Insolvency Winding Up Settlement Preliminary Objection

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Parties

Red Dot Distributors Limited

Applicant

Darworth Limited

Respondent

CRDB Bank

Interested Party

Procedural Posture

Petition for Winding Up / Ruling on Settlement After Preliminary Objection

Legal Issues

1 whether the petition for winding up is competent
2 whether the parties have settled the dispute

Ratio Decidendi

The Deed of Settlement executed by both parties discharges the claims forming the basis of the winding up petition; the court adopts the settlement as its judgment and decree.

Court Disposition

petition marked settled at the compromise of the parties

Orders

Deed of Settlement executed on 30th June 2021 and filed on 5th July 2021 constitutes part of the ruling and forms the decree
Petition marked settled at the compromise of the parties