John Farley Pietersen and Mark Johnstone v Duration Gold Zimbabwe (Pvt) Ltd and All Flame Marketing (Pvt) Ltd and Competitive Marketing (Pvt) Ltd and DGL Investments Number Twenty One (Mauritius)

HB 52/23

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Case Details

Court

Bulawayo High Court

Date

30 March 2023

Citation

HB 52/23

Neutral Citation

[2023] ZWHB 52

Outcome

unknown

Case Type

Application

Bench

Presiding

Moyo J

Full Bench

Moyo J

Areas of Law

Company lawContract law

Keywords

Share certificatesShare transferJoint ventureContractual remedies

Key Issues

{"issue_text":"Whether the court should declare applicants as majority shareholders owning 57.45% of second respondent's shares","issue_type":"mixed","dispositive":"yes","related_facts":"Share sale agreements, non-payment of purchase price, joint venture agreement"}
{"issue_text":"Whether the share certificate showing fourth respondent as 100% shareholder should be declared null and void","issue_type":"mixed","dispositive":"yes","related_facts":"Share transfer to fourth respondent as nominee"}

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background

Facts of the Case

Background

The applicants sought declarations that they are majority shareholders of the second respondent (owning 57.45% of shares) and that a share certificate showing the fourth respondent as 100% shareholder be declared null and void. The dispute arose from a series of agreements including share sale agreements and a joint venture agreement where shares were transferred but purchase prices remained unpaid.

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