Robin Charles Balch versus Wincourt (Private) Limited and Andrew Machiha and Swerma Machiha and Barclays Bank of Zimbabwe Limited and The Registrar of Deeds N.O

HH 587-18

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Case Details

Court

Harare High Court

Date

3 October 2018

Citation

HH 587-18

Neutral Citation

[2018] ZWHH 587

Outcome

unknown

Case Type

Opposed Application

Bench

Presiding

Mathonsi J

Full Bench

Mathonsi J

Areas of Law

Corporate LawProperty LawBanking Law

Keywords

Turquand RuleCompanies ActMortgage BondDirector RemovalShareholding

Key Issues

{"issue_text":"Whether the removal of the applicant as director was valid","issue_type":"law","dispositive":"yes","related_facts":"CR14 filed on 1 August 2006, applicant's alleged resignation"}
{"issue_text":"Whether the hypothecation of the property in favour of the fourth respondent should be set aside","issue_type":"law","dispositive":"yes","related_facts":"Mortgage bond registration, Turquand Rule, Companies Act s12"}
{"issue_text":"Whether the mortgage bond in favour of the fourth respondent is illegal and should be cancelled","issue_type":"law","dispositive":"yes","related_facts":"Banking facility, company resolution, fourth respondent's good faith"}

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background

Facts of the Case

Background

Applicant was a 25% shareholder and co-director of first respondent company which owned property. Second respondent became 75% shareholder in 2006 and allegedly forged applicant's resignation from directorship. Company used property as security for banking facility without applicant's knowledge. Applicant seeks reinstatement as director and cancellation of mortgage bond.

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