sibantanza limited 2023 tzhccomd 147 26 may 2023

sibantanza limited 2023 tzhccomd 147 26 may 2023

The court found that the members of Sibatanza Limited had mutually agreed by special resolution to wind up the company, satisfying the statutory requirement under section 279(1)(a) of the Companies Act. No objections were raised, and all procedural requirements were met. Therefore, the court granted the winding up order and appointed an official liquidator.

Citation
sibantanza limited 2023 tzhccomd 147 26 may 2023
Parties
Petitioner: Sibatanza Limited
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
26 May 2023
Procedural Posture
Winding Up Petition / Final Ruling
Outcome
petition granted
Legal Topics
Winding Up of Company, Appointment of Liquidator, Voluntary Resolution
Source Language
English
Company Law Insolvency Winding Up of Company Appointment of Liquidator Voluntary Resolution

Case Brief

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Parties

Sibatanza Limited

Petitioner

Procedural Posture

Winding Up Petition / Final Ruling

Legal Issues

  1. 1 Whether the court should grant an order for winding up Sibatanza Limited based on a special resolution by its members
  2. 2 Whether an official liquidator should be appointed for the winding up process

Ratio Decidendi

The court found that the members of Sibatanza Limited had mutually agreed by special resolution to wind up the company, satisfying the statutory requirement under section 279(1)(a) of the Companies Act. No objections were raised, and all procedural requirements were met. Therefore, the court granted the winding up order and appointed an official liquidator.

Court Disposition

petition granted

Orders

  • Sibatanza Limited is hereby wound up pursuant to section 279(1)(a) of the Companies Act, Cap 212 R.E 2019.
  • Advocate Claudio Msando is appointed as official liquidator for a period of three months, subject to the court's control and powers under sections 299, 300, 301, 302, 303, 304, and 306 of the Companies Act.