Bryan Xsabo Strategy Consultants ( Uganda) Limited and 2 Others v Great Lakes Energy Company N.V (Company Cause No. 13 of 2020)
Observed later treatment
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Holding
The High Court held that the Registrar of Companies retained jurisdiction to rectify the company register despite parallel arbitration proceedings, as rectification was not a matter subject to the arbitration agreement and fell within the Registrar's statutory powers under the Companies Act 2012 and the Companies (Powers of the Registrar) Regulations. However, the Registrar's decision was set aside for procedural irregularity, as the Registrar failed to take evidence by statutory declaration or viva voce as required by section 288 of the Companies Act, thereby denying the appellants a fair hearing. The matter was remitted for rehearing before a different registrar.
Outcome
Matter remitted to Registrar of Companies for rehearing before a different registrar
Facts
MSS Xsabo Power Limited was incorporated to develop a 20MW solar power project with two shareholders: Bryan Xsabo Strategy Consultants (Uganda) Ltd (80 shares) and Mola Solar Systems (Uganda) Limited (20 shares). On 30 April 2017, the company and its shareholders entered into an Investment Agreement with Great Lakes Energy Company N.V to finance the project. Following an extraordinary general meeting on 6 July 2017, the share capital was increased and 96 ordinary shares were allotted to Great Lakes Energy Company N.V. A dispute arose when the parties alleged Great Lakes failed to pay for the allotted shares. On 4 November 2019, a board resolution was passed revoking Great Lakes' shareholding and transferring the shares to the original shareholders. Great Lakes filed a petition before the Registrar of Companies seeking rectification of the register and restoration of its 96 shares. The Registrar granted the petition and expunged the 4 November 2019 resolution from the register. The original shareholders appealed, arguing the Registrar lacked jurisdiction due to pending London arbitration proceedings and failed to accord them a fair hearing.
Issues
- Whether the Registrar of Companies had jurisdiction to entertain a matter already at the London Court of International Arbitration pursuant to an arbitration clause.
- Whether the Registrar of Companies erred in law when he made a decision without giving the appellants a fair hearing.
Orders
- The appeal is allowed.
- The order of the Registrar is set aside.
- The Registrar is directed to re-hear the complaint before a different person (registrar).
- No order as to costs.
Rules and key headnotes
Legislation cited (13)
- Companies Act 2012 s.288
- Companies Act 2012 s.291
- Companies Act 2012 s.293
- Companies (Powers of the Registrar) Regulations SI No. 71 of 2016 reg.3(i)
- Companies (Powers of the Registrar) Regulations SI No. 71 of 2016 reg.4(1)
- Companies (Powers of the Registrar) Regulations SI No. 71 of 2016 reg.4(2)
- Companies (Powers of the Registrar) Regulations SI No. 71 of 2016 reg.8
- Constitution of Uganda art.26
- Constitution of Uganda art.28
- Constitution of Uganda art.42
- Constitution of Uganda art.44(c)
- Civil Procedure Rules SI 71-1 O.38 r.2
- Civil Procedure Rules SI 71-1 O.38 r.5(a)
Cases cited (2)
- Dallah Real Estate and Tourism Co. v Ministry of religious Affairs of the Government of Pakistan [2011] 1 AC 793
- Luitingh Lafras & Anor v Special Services Ltd (High Court Company Cause No. 11 of 2019)
Cases citing this judgment (1)
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
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