Allied Bank International Ltd v Sadru Kara and Abdul Kara (Civil Suit No. 191 of 2002)
Observed later treatment
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Holding
Held that under Ugandan law, minority shareholders bringing a derivative action on behalf of a company need not seek prior leave of court, unlike the position in England under Order 15 rule 12A RSC. The joinder of minority shareholders as plaintiffs alongside the companies on whose behalf they sue is proper. Where a receiver is alleged to be complicit in wrongdoing against the company, minority shareholders may bring the derivative action despite the receivership. Preliminary objection overruled.
Outcome
Preliminary objection dismissed; counterclaim allowed to proceed to hearing on the merits
Facts
Allied Bank International Ltd sued Sadru Kara and Abdul Kara. The defendants counterclaimed, alleging that the bank and a court-appointed receiver wrongfully seized and sold company property without a valid debenture. The counterclaim was brought by minority shareholders (1st and 2nd Plaintiffs to counterclaim) as a derivative action on behalf of two companies (3rd and 4th Plaintiffs to counterclaim). At the commencement of the hearing, counsel for the 3rd and 4th Defendants to the counterclaim raised a preliminary objection challenging the competence of the counterclaim on three grounds: (i) the derivative action had not been sanctioned by leave of court; (ii) minority shareholders and companies were improperly joined as co-plaintiffs; and (iii) the receiver, not the shareholders, should be the proper plaintiff given the companies were under receivership.
Issues
- Whether a derivative action brought by minority shareholders on behalf of companies requires prior leave of court under Ugandan law.
- Whether minority shareholders can be joined as co-plaintiffs with the companies on whose behalf the derivative action is brought.
- Whether a receiver in control of a company, rather than minority shareholders, is the proper plaintiff in a derivative action where the company is under receivership.
Orders
- The preliminary point of law is overruled.
- Costs to be in the cause.
Rules and key headnotes
Legislation cited (1)
Cases cited (10)
- Foss v Harbottle (1843) 2 Hare 461
- Smith v Croft (No.2) [1987] BCL 206
- Salim Jamal v Uganda Oxygen Ltd (Civil Appeal No. 64 of 1995)
- East Pant du Lead Mining Co v Merryweather (1867) LR 5 Eq 464n
- National Enterprise Corporation v Nile Bank (Civil Appeal No. 17 of 1994)
- Earn International v Mohamed Halid el Fathi (Civil Appeal No. 6 of 1993)
- Spokes v Grosvenor Hotel [1897] 2 QB 124
- Clarkson v Davies [1923] AC 100
- East Pant du Lead Mining Co v Merryweather (1864) 2 H & M 254
- Atwool v Merryweather (1867) LR 5 Eq 464n
Cases citing this judgment (2)
How later Ugandan judgments in the Wakilii corpus have cited this case. Treatment labels come from Sequitur — Uganda’s citator — each backed by a verbatim span from the citing judgment, and are not an assertion that this case is, or is not, good law.
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.