Byaruhanga v Chemical Distributors (U) Ltd (HCT-00-CV-CI-0027-2015)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Held that a petition for winding up of a company cannot be brought directly to the High Court by a shareholder under the Companies Act 2012. Under that Act, winding up petitions may only be presented by the company itself as a voluntary winding up, or by a creditor. An aggrieved shareholder alleging oppression must first petition the Registrar of Companies under section 247, and only the Registrar may refer the matter to the High Court if no remedy can be found. The petition was struck out for want of jurisdiction and lack of cause of action.
Outcome
Petition struck out for lack of jurisdiction
Facts
The petitioner, a 35% shareholder in the first respondent company, filed a petition seeking orders that the company be wound up under the Companies Act 2012 and that he be paid equity equal to his shareholding. The petition was brought under no specific provision of law. At the hearing, counsel for the petitioner applied for an adjournment to review the petition. On the subsequent hearing date, counsel sought to amend the reliefs and alternatively prayed for the appointment of a provisional liquidator under the Insolvency Act 2011, citing concerns about the management of the company by the second respondent. The respondents raised a preliminary objection that the petition was not properly before the court, arguing that under the Companies Act 2012, a winding up petition can only be presented by the company itself or by a creditor, and that an aggrieved shareholder must first petition the Registrar of Companies.
Issues
- Whether the petition is properly before the High Court, and if not whether it should be struck out with costs.
- Whether an interim liquidator can be appointed under the circumstances of this case.
- Whether the petitioner should be allowed to amend the petition under the circumstances.
Orders
- Petition struck out.
- Costs awarded to the respondents.
Rules and key headnotes
Legislation cited (13)
- Companies Act 2012 s.268
- Companies Act 2012 s.269
- Companies Act 2012 s.247
- Companies Act 2012 Part IX
- Insolvency Act 2011 s.91
- Insolvency Act 2011 s.92
- Insolvency Act 2011 s.92(2)
- Insolvency Act 2011 s.92(3)
- Insolvency Act 2011 s.93(2)
- Insolvency Act 2011 s.94(1)
- Insolvency Act 2011 s.94(2)
- Constitution of Uganda 1995 s.139
- Companies Act Cap. 110 s.222(f)
Cases cited (2)
- Charles Forte Investments Ltd v Amanda [1963] 2 All ER 940
- Saggu v Roadmaster Cycles (U) Ltd [2002] 1 EA 258
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.