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Harare High Court
Azim Dhanani v Piccobello (Pvt) Ltd and Timothy John Wotton and Ana Momcilovic and Jovan Ilic and The Deputy Sheriff – Harare
HH 208-2013
Case Details
Court
Harare High Court
Date
3 July 2013
Citation
HH 208-2013
Neutral Citation
[2013] ZWHH 208
Outcome
unknown
Case Type
Trial
Bench
Presiding
Kudya J
Full Bench
Kudya J
Areas of Law
Company lawExchange control regulationsCapital redemption
Keywords
Share transferNominee shareholderCapital redemptionExchange controlForeign resident
Tags
Shareholder disputesCompany lawForeign investmentNominee shareholding
legislation
Statutes Cited
- Indigenisation and Economic Empowerment Act
- Zimbabwe Investment Authority Act
- Companies Act
- Companies Act
- Companies Act
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether second defendant held 51% shares as nominee for plaintiff","issue_type":"mixed","dispositive":"no","related_facts":"Shareholding structure, parties' agreement, conduct after formation"}
- {"issue_text":"Whether transfer of shares to foreign resident violates exchange control regulations","issue_type":"law","dispositive":"yes","related_facts":"Plaintiff's foreign resident status, s 13(1) Exchange Control Regulations"}
- {"issue_text":"Whether plaintiff remained shareholder after redeeming capital","issue_type":"law","dispositive":"yes","related_facts":"Capital redemption without statutory compliance, Companies Act provisions"}
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background
Facts of the Case
Background
A Belgian national plaintiff invested US$74,400 in a Zimbabwean restaurant company and claimed entitlement to 51% shareholding held by second defendant as his nominee. The plaintiff redeemed his capital contribution but continued receiving payments. Dispute arose when plaintiff demanded transfer of the 51% shares.
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