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Supreme Court

Christopher Sambadza v Al-Shams Global BVI Limited

SC 56/21

Case Details

Court
Supreme Court
Date
18 May 2021
Citation
SC 56/21
Neutral Citation
[2021] ZWSC 56
Outcome
unknown
Case Type
Appeal

Bench

Presiding
GOWORA JA
Full Bench
GOWORA JAMAKONI JABERE JA
Areas of Law
Company LawBanking & Finance
Keywords
section 318 Companies Actdirectors liabilityreckless tradinggross negligenceBankers Acceptance
Tags
company lawdirectors liabilitybanking
legislation
Statutes Cited
  • Companies Act
  • Companies Act [Chapter 190] (repealed)
ai analysis
Case Summary

Key Issues

  • {"issue_text":"Whether appellant was personally liable under s 318 Companies Act for company's debt","issue_type":"law","dispositive":"yes","related_facts":"Appellant's resignation before BA due, denial of BA knowledge"}
  • {"issue_text":"Whether 30% interest rate was legal","issue_type":"law","dispositive":"no","related_facts":"Interest claimed on judgment amount"}
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background
Facts of the Case

Background

The respondent company obtained a default judgment against Rodstreet Trading for USD$117,335.91 under a Bankers Acceptance. When execution failed, respondent sued appellant as former director under s 318 Companies Act for personal liability, alleging reckless trading. High Court found appellant liable. Appellant appealed.
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