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Commercial Registry-Lusaka - 2010

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1 judgment
February 2010
Christopher James Thorne v Christopher Mulenga and Ors (2008/HPC/0841) [2010] ZMHC 116 (16 February 2010)
A shareholder cannot obtain an interlocutory injunction to restrain receivers enforcing a debenture; the action was procedurally defective and dismissed.
  • Company law — separate legal personality; Receivers and managers appointed under a floating charge — power of sale; Interlocutory injunction — American Cyanamid principles (clear right, adequacy of damages, balance of convenience); Shareholder lacks proprietary right in company assets; Procedure — negligence/damages claims against receivers require writ not originating summons.
16 February 2010