RULING JUMBO PACKING

The company passed a special resolution to wind up due to nonperformance and lack of profitability, which constitutes just and equitable grounds for winding up. The court finds the circumstances fit for winding up and appoints a qualified liquidator.

Citation: RULING JUMBO PACKING
Parties: Petitioner: Jumbo Packaging Printing Industry Limited; Director and Principal Officer: Mr Osman Harun Jusabani; Official Liquidator (appointed): Advocate Claudio Msando
Court: TANZLII
Jurisdiction: Tanzania
Judgment Date: 13 November 2001
Procedural Posture: Winding Up Petition / Final Ruling
Outcome: petition granted
Legal Topics: Winding Up, Appointment of Liquidator, Company Resolution
Source Language: English

Company Law Insolvency Winding Up Appointment of Liquidator Company Resolution

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Parties

Jumbo Packaging Printing Industry Limited

Petitioner

Mr Osman Harun Jusabani

Director and Principal Officer

Advocate Claudio Msando

Official Liquidator (appointed)

Procedural Posture

Winding Up Petition / Final Ruling

Legal Issues

1 Whether the petitioner company should be wound up by court order
2 Whether appointment of official liquidator is justified

Ratio Decidendi

Court Disposition

petition granted

Orders

Jumbo Packaging Printing Industry Limited is wound up pursuant to section 279(1)(e) of the Companies Act.
Advocate Claudio Msando appointed as official liquidator for three months, subject to court control and powers under sections 299-306 of the Companies Act.