Official Receiver v Sontag (Civ. App. No. 8 of 1938.)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The Court held that attachment of immovable property under Tanganyika's Civil Procedure Code, effected and confirmed before a winding-up order, constitutes an execution completed by seizure within section 263(2) of the Companies Ordinance. The local attachment procedure is as effective as English sheriff's seizure in establishing a secured creditor's rights. Where execution is completed before winding-up, the executing creditor retains the right to proceed to sale, and the Court will not exercise its discretion under section 176 to prevent sale absent fraud or bad faith.
Outcome
Respondent permitted to proceed with sale of attached property in execution of his judgment
Facts
On 30 October 1936, the respondent obtained an attachment before judgment of immovable property belonging to Bagamoyo Planting and Trading Co., Ltd. for arrears of salary totalling Sh. 9,041. The attachment was effected on 11 November 1936. On 17 November 1936, the company consented to judgment and the attachment was confirmed. On 18 December 1936, another creditor petitioned for winding-up and the Court appointed the Official Receiver as liquidator. The respondent then applied to have the attached properties sold in satisfaction of his judgment. The Official Receiver objected, arguing that sections 173, 176, and 263(2) of the Companies Ordinance prevented such sale and that no execution had been completed by seizure. The trial judge allowed the application for sale. The Official Receiver appealed.
Issues
- Whether attachment of immovable property effected before a winding-up order constitutes an execution completed by seizure within the meaning of section 263(2) of the Companies Ordinance.
- Whether the local process of attachment in Tanganyika is equivalent to seizure by a sheriff under English law.
- Whether the Court should exercise its discretion under section 176 to prevent sale of attached property after a winding-up order.
Orders
- Appeal dismissed.
- Costs awarded to the respondent.
Rules and key headnotes
Legislation cited (4)
- Companies Ordinance (Tanganyika) s.173
- Companies Ordinance (Tanganyika) s.176
- Companies Ordinance (Tanganyika) s.263(2)
- Indian Civil Procedure Code O.21 r.22(1)
Cases cited (2)
- In re London and Devon Biscuit Co. (1871) 12 Eq. 190
- In re Perkins Beach Lead Mining Co. (1877) 7 Ch. 371
Full judgment
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