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The High Court granted limited letters of administration for collection and preservation of an estate, but refused prayers to transfer shares and assume company management powers.
Both petitioner and first respondent conducted affairs of the second respondent company in a manner unfair and prejudicial to its interests. The petitioner, as administrator of the estate of a deceased shareholder, is entitled to petition under section 233(2) but is not a member. The petitioner is a director per BRELA records. Both parties must cooperate to resolve managerial issues, and neither may act unilaterally without proper resolutions.
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The High Court held that the petitioner was the lawful holder of 10 shares and that excluding her from company affairs amounted to unfair prejudice.
Probate administrators of a deceased shareholder may be registered as members of the company and the deceased's name removed from the register, but further orders for making entries or notifying the Registrar require strict proof of untraceability of other shareholders, which was not sufficiently established in this case.
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