in the matter of benson informatics ltd 2021 tzhccomd 3293 14 july 2021

The company is unable to pay its debts, its liabilities outweigh its assets, and it has lost its regulatory licences, justifying winding up under the Companies Act.

Citation: in the matter of benson informatics ltd 2021 tzhccomd 3293 14 july 2021
Parties: Petitioner: Benson Informatics Ltd
Court: TZHCCOMD
Jurisdiction: Tanzania
Judgment Date: 14 July 2021
Procedural Posture: Winding Up Petition / Final Judgment
Outcome: petition allowed
Legal Topics: Winding Up, Liquidation, Corporate Insolvency
Source Language: English

Company Law Insolvency Winding Up Liquidation Corporate Insolvency

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Parties

Benson Informatics Ltd

Petitioner

Procedural Posture

Winding Up Petition / Final Judgment

Legal Issues

1 whether the company is unable to pay its debts
2 whether the company should be wound up under the Companies Act

Ratio Decidendi

The company is unable to pay its debts, its liabilities outweigh its assets, and it has lost its regulatory licences, justifying winding up under the Companies Act.

Court Disposition

petition allowed

Orders

Benson Informatics Ltd is wound up under sections 279(1)(d) and 281(1) of the Companies Act, 2002.
Mr Clement E.A. Kihoko is appointed official liquidator for three months, subject to court control, with powers under sections 299-306 of the Companies Act, 2002.