tropical commodities ltd vs cashew nut board of tanzania another 2008 tzhc 285 28 may 2008

tropical commodities ltd vs cashew nut board of tanzania another 2008 tzhc 285 28 may 2008

The requirements of the Bankruptcy Act and its rules regarding proof of debts by affidavit do not apply to specified public corporations that are not undergoing liquidation but are being restructured or privatized. The Companies Act and its winding up rules only apply when the corporation is in liquidation, not during privatization. Therefore, the preliminary objections raised by the 2nd defendant lack merit.

Citation
tropical commodities ltd vs cashew nut board of tanzania another 2008 tzhc 285 28 may 2008
Parties
Plaintiff: Tropical Commodities Ltd; 1st Defendant: The Cashew Nut Board of Tanzania; 2nd Defendant: The Presidential Parastatal Sector Reform Commission
Court
TZHC
Jurisdiction
Tanzania
Judgment Date
28 May 2008
Procedural Posture
Commercial / Ruling on Preliminary Objections
Outcome
Preliminary objections dismissed with costs
Legal Topics
Jurisdiction, Preliminary Objection, Bankruptcy Act, Companies Act, Official Receiver, Liquidation, Privatization
Source Language
English
Commercial Law Insolvency Law Public Corporations Jurisdiction Preliminary Objection Bankruptcy Act Companies Act Official Receiver +2 more

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Parties

Tropical Commodities Ltd

Plaintiff

The Cashew Nut Board of Tanzania

1st Defendant

The Presidential Parastatal Sector Reform Commission

2nd Defendant

Procedural Posture

Commercial / Ruling on Preliminary Objections

Legal Issues

  1. 1 Whether the suit against the 2nd defendant is premature or has abated for want of compliance with Section 37 of the Bankruptcy Act and related rules
  2. 2 Whether the Court lacks original jurisdiction to entertain and determine the matter
  3. 3 Whether any cause of action is disclosed against the 2nd defendant

Ratio Decidendi

The requirements of the Bankruptcy Act and its rules regarding proof of debts by affidavit do not apply to specified public corporations that are not undergoing liquidation but are being restructured or privatized. The Companies Act and its winding up rules only apply when the corporation is in liquidation, not during privatization. Therefore, the preliminary objections raised by the 2nd defendant lack merit.

Court Disposition

Preliminary objections dismissed with costs

Orders

  • The preliminary points raised by the 2nd defendant are dismissed with costs.