Administrators of the estate of the late Sam Musoke v Kabaale Another (Company Complaint 14356 of 2023)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Held that the transfer of 50 shares from the deceased to the respondents was valid. The complainants alleged the deceased's signature on the share transfer documents was forged, relying on a government analyst's report. The respondents produced a contradictory police forensic report concluding the signature was genuine. The Registrar found the complainants' expert report inadequately authenticated and their evidence insufficient to prove fraud to the required standard. The complainants failed to corroborate the expert opinion with evidence that the meeting at which the transfer was resolved never took place. The delay in registration was attributable to the COVID-19 lockdown. Complaint dismissed; each party to bear own costs.
Outcome
Complaint dismissed; transfer of shares upheld as valid
Facts
The late Sam Musoke Kirunda owned 50 shares in Fortune Investments Company Limited. On 16 March 2020, a resolution was passed transferring his 50 shares to the respondents. The resolution and transfer forms were registered on 12 February 2021. The deceased died on 8 December 2020. The complainants, as administrators of the deceased's estate, filed a complaint alleging the deceased's signature on the resolution and transfer forms was forged. They produced a government analyst's report concluding the signature was forged. The respondents produced a police forensic report concluding the signature was genuine. The respondents stated the delay in registration was due to the COVID-19 lockdown imposed in March 2020. Another shareholder, Kibuuka Charles Mukasa, also transferred shares at the same meeting and signed the resolution.
Issues
- Whether there was a valid transfer of 50 shares from the Late Sam Musoke Kirunda to the Respondents in Fortune Investments Company Limited?
- What remedies are available?
Orders
- The transfer and registration of 50 shares to the Respondents in Fortune Investments Company Limited was legal, lawful and valid.
- Each party to bear its own costs.
Rules and key headnotes
Legislation cited (11)
- Companies Act No.1 of 2012 s.150(2)
- Companies Act No.1 of 2012 s.288
- Companies (Powers of the Registrars) Regulations 2016 reg.3
- Companies (Powers of the Registrars) Regulations 2016 reg.8
- Companies (Powers of the Registrars) Regulations 2016 reg.9
- Evidence Act Cap 6 s.43
- Evidence Act Cap 6 s.45
- Evidence Act Cap 6 s.60
- Evidence Act Cap 6 s.62(b)
- Evidence Act Cap 6 s.66
- Evidence Act Cap 6 s.72(1)
Cases cited (15)
- Elizabeth Nabeta v Dr Anthony Konde (Civil Suit No. 391 of 2010)
- Fredrick Zaabwe v Orient Bank & Others (Supreme Court Civil Appeal No. 4 of 2006)
- Kampala Bottlers Ltd v Damanico (U) Ltd (Supreme Court Civil Appeal No. 22 of 1992)
- Ratilal Gordhanbhai Patel v. Lalji Makanji [1957] EA 314
- Kaggwa v Olal & 6 Others (Civil Appeal No. 10 of 2017)
- Lalwak Alex v Opio Mark (Civil Appeal No. 078 of 2018)
- R v. Silverlock [1894] 2 Q.B. 766
- Kizito Joseph Mubiru v Wamala Desire Paul & 2 Others (Civil Appeal No. 62 of 2018)
- Kimani vs Republic (2000) E.A 417
- Iwa Richard Okeny Applicant Versus Obol George Okot
- Ali Ahmad v Mohammad Ahmad (High Court Civil Suit No. 38 of 2011)
- Bryan Xsabo Strategy Consultants (Uganda) Limited & 2 Others v Great Lakes Energy Company N.V (Company Cause No. 13 of 2020)
- Sebuliba v. Cooperative bank Limited [1987] HCB 130
- M. Kibalya v. Kibalya [1994-95] HCB 80
- Mawanda & Another v Kobil Uganda Limited (Civil Suit No. 350 of 2008)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.