Green Land Bank Ltd (In Liquidation) v Express Sports Club Ltd (HCT-00-CC-CS 232 of 2006)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
A company incorporated after a loan transaction cannot be held liable for debts incurred before its incorporation unless there is a new agreement ratifying the pre-incorporation contract. A memorandum and articles of association do not constitute such ratification. The plaint was rejected for failing to disclose a cause of action against the incorporated defendant company for pre-incorporation debts.
Outcome
Plaint rejected for non-disclosure of cause of action
Facts
Greenland Bank Ltd (in liquidation) sued Express Sports Club Ltd to recover Shs. 7,374,982 overdrawn on account No. 01-523693. The account showed a closure balance of Shs. 3,686,229 on 31 March 1999. The Defendant Company was incorporated on 30 November 1999. At the scheduling conference, the Defendant raised a preliminary objection that the plaint failed to disclose a cause of action because the debt arose from transactions before the Defendant Company's incorporation. The Plaintiff argued that the pre-incorporation promoters were the same as the current officials, and that the Defendant's memorandum of association ratified the pre-incorporation liabilities.
Issues
- Whether the plaint disclosed a cause of action against the Defendant Company.
- Whether a company is liable for debts incurred by its pre-incorporation entity.
- Whether the Defendant Company ratified the pre-incorporation loan agreement through its memorandum and articles of association.
Orders
- Preliminary objection upheld.
- Plaint rejected under Order 7 rule 11(a) of the Civil Procedure Rules.
- Costs awarded to the Defendant.
Rules and key headnotes
Legislation cited (2)
- Companies Act s.21(1)
- Civil Procedure Rules O.7 r.11(a)
Cases cited (5)
- Auto Garage & Others v Motokov (No. 3) [1971] EA 514
- Salomon v Salomon & Co Ltd [1897] AC 22
- Sentamu v Uganda Commercial Bank & Anor (1983) HCB 61
- The New Vision Printing & Publishing Co. Ltd & Other v Peter Kaggwa (HCT-00-CC-MA-0127 of 2006)
- Phonogram Ltd v Lane [1981] 3 All ER 182
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.