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Judicial Management re: Approach, Confirmation or Discharge of Provisional Judicial Management Order

HB74-10 : REBECCA SIZIBA vs BAMSLOVE INVESTMENTS (PVT) LTD and MARTIN SIMMONS and REGISTRAR OF COMPANIES
Ruled By: MATHONSI J

The first respondent employs 105 employees on a fulltime basis and its mines must be doing well. I am of the view that its problems, and in particular its inability to declare a dividend for all these years, is attributable to maladministration. While most of the applicant's concerns may be founded they point to a ...
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HB82-13 : ELLINGBARN TRADING (PRIVATE) LIMITED vs ASSISTANT MASTER OF THE HIGH COURT and PEOPLE'S OWN SAVINGS BANK
Ruled By: MUTEMA J

In order for the avid reader to fully comprehend the outcome of this proceeding, I find it in order to start by briefly outlining, in its chronological order, the path which it has trodden. The applicant was incorporated on 13 March, 2007. It is essentially a restaurant whose speciality is traditional food. In case number HC3829/11, the ...
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HB83-13 : ZIMBABWE INTERNATIONAL TRADE FAIR COMPANY vs VIKING PLASTICS (PVT) LTD and BONGANI NDLOVU N.O.
Ruled By: MUTEMA J

Economic challenges, liquidity crunch, viability problems, competition – the list is not exhaustive for these and other phenomena which have conspired to hamstring a lot of business entities in this country with the consequent result of threatening their very existence. Too ghastly to contemplate are the possible consequences. But is the flagrant abuse of court ...
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HH48-14 : WINSLEY MILITALA N.O. and QV PHARMACIES PRIVATE LIMITED (Under Provisional Judicial Management) vs MUTUAL FINANCE PRIVATE LIMITED and MESSENGER OF COURT and SHINGIRAI USHEWOKUNZE
Ruled By: CHIGUMBA J

The first applicant's rights, conferred by operation of statute, pose a different dilemma. The matter could be disposed of by simply finding that on 8 January 2014, when the second applicant was placed under provisional judicial management, the Borrowdale Shop was no longer its asset and therefore not capable of being managed by the ...
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HH170-14 : ZIMBABWE TEXTILE WORKERS UNION vs DAVID WHITEHEAD TEXTILES LTD and DWT HOLDINGS and DWT SPINNING and DWT COTTON WOOLS and DWT FABRICS and DWT HOSEIRY and MASTER OF HIGH COURT
Ruled By: MAKONI J

This is an application for the confirmation of a provisional order granted on 1 December 2010 for the placement of the respondent companies under judicial management. Between that date and the 17th of July 2013 a lot happened which culminated in an order by consent of all the parties involved extending the return date for ...
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HH170-14 : ZIMBABWE TEXTILE WORKERS UNION vs DAVID WHITEHEAD TEXTILES LTD and DWT HOLDINGS and DWT SPINNING and DWT COTTON WOOLS and DWT FABRICS and DWT HOSEIRY and MASTER OF HIGH COURT
Ruled By: MAKONI J

Whether the provisional order should be confirmed or discharged The requirements for confirmation or discharge of a provisional judicial order are set out in section 305 of the Companies Act. For a court to arrive at a decision it must consider: (i) The opinion and wishes of the creditors and members of the company. (ii) The report of the ...
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HB194-11 : ZIMBABWE TEXTILE WORKERS UNION vs MERLIN (PRIVATE) LIMITED t/a MERSPIN and ASSISTANT MASTER OF THE HIGH COURT OF ZIMBABWE
Ruled By: MATHONSI J

That the first respondent is a troubled company in serious financial dire straits is self-evident. It was suspended from the Zimbabwe Stock Exchange. It has not paid its employees at all since January 2010 when it employs about 200 employees. It has not engaged in any production since September 2010 and the factory from ...
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Appealed
SC30-16 : STAND FIVE FOUR NOUGHT (PRIVATE) LIMITED vs SALZMAN ET CIE SA
Ruled By: ZIYAMBI JA, GOWORA JA and UCHENA JA

WHETHER IT IS JUST AND EQUITABLE FOR THE APPELLANT TO BE PLACED INTO FINAL JUDICIAL MANAGEMENT Counsel for the appellant and for the respondent agreed that this issue should be resolved by considering the provisions of section 305 of the Companies Act. Counsel for the appellant submitted that final judicial management should have been granted because ...
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HH767-15 : IN RE: STAND FIVE FOUR NOUGHT (PVT) LTD (Under Provisional Judicial Management) FOR AN ORDER FOR FINAL JUDICIAL MANAGEMENT vs x
Ruled By: MATHONSI J

This application, for a judicial management order, made in terms of section 299(1)(a) as read with section 207(1) and section 242(b) of the Companies Act [Chapter 24:03], makes for very interesting reading indeed. The basis for seeking that order is contained in paragraph 10 of the founding affidavit of Serish Pershotam Ranchod, a Director ...
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HB117-16 : BENNY HLATSHWAYO & 14 OTHERS vs GEOZING PAWNBROKERS (PVT) LTD and PHILIP NDLOVU N.O. and MATSHOBANA NCUBE N.O. and THE ASSISTANT MASTER OF THE HIGH COURT
Ruled By: TAKUVA J

Lack of opposition does not entitle the court to dispense with the requirements set out in section 305(1) of the Companies Act [Chapter 24:03].
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Appealed
SC05-19 : TETRAD INVESTMENT BANK LTD (Under Judicial Management) vs BINDURA UNIVERSITY OF SCIENCE EDUCATION and THE SHERIFF OF ZIMBABWE
Ruled By: GWAUNZA JA, GUVAVA JA and MAVANGIRA JA

It is not in dispute that where a company is under judicial management, all processes which defeat the purpose of judicial management should be avoided. Judicial management is defined, in Feigenbaum Anor v Germanis N.O. Ors 1998 (1) ZLR 286 (H)…, in the following terms: “Judicial management is an extraordinary procedure made available to a company by ...
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HH319-17 : BINDURA UNIVERSITY OF SCIENCE EDUCATION vs TETRAD INVESTMENT BANK LTD (Under Provisional Judicial Management) and THE SHERIFF OF ZIMBABWE (N.O.)
Ruled By: ZHOU J

The power of the court to grant an order of judicial management is a creature of statute and the circumstances in which that power is exercisable are provided for in the Companies Act [Chapter 24:01]. See section 299 and section 300 of the Companies Act; TETT CHADWICK, Zimbabwe Company Law 2nd ed….,. The effect of ...
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SC100-21 : PARKHAM ENTERPRISES (PVT) LTD and NYASHA MOTSI vs ADHESIVE PRODUCTS MANUFACTURES (PVT) LTD and THE MASTER OF THE HIGH COURT N.O.
Ruled By: CHITAKUNYE JA

This is an opposed chamber application for reinstatement of an appeal in terms of Rule 70(2) of the Supreme Court Rules 2018.The intended appeal is against the whole judgment of the High Court sitting at Bulawayo, handed down on 17 December 2020 in case number HC1314/20 judgment number HB12-21.THE FACTSOn ...
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HB31-15 : TAMIRA OVERSEAS S.A. vs AQUIRIUM TRADING (PVT) LTD
Ruled By: TAKUVA J

The applicant applied for an order placing the respondent under provisional liquidation in terms of sections 207, 206(f)(g) as read with section 205(c) of the Companies Act [Chapter 24:03].This Court, per MAKONESE J, on 18 September 2014, issued the following provisional order:“1. The respondent, Aquirium Trading (Pvt) Ltd is provisionally ...
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HB12-21 : ADHESIVE PRODUCTS MANUFACTURERS (PVT) LTD vs PARKAM ENTERPRISES (PVT) LTD (Under provisional judicial management of N. Motsi) and ASSISTANT MASTER OF THE HIGH COURT N.O.
Ruled By: DUBE-BANDA J

This application was set down during vacation, i.e. on the Motion Court for 17 December 2020.When this matter was called, Mr Moyo, counsel for the applicant rose and made a submission that the papers were in order, and he prayed for an order in terms of the draft order. Mr ...
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