I have had a quick look at the Moses Kigongo Vs Olive Kigongo case and below is my unsolicited legal opinion ( I am putting on my legal hut not the philosophical one on this occasion). 1. If as Mr Kigongo avers Mrs Kigongo has never been a shareholder in the company, she would not therefore have any access to membership rights, eg petitioning to wind down the company. It is only the shareholders, Registrar of Companies or the High Court that can make such petitions, in the case of the High Court in exercise of its powers of recovery under Recovery of Proceeds of Crimes legislation (assuming a court has resolved Kigongo is a fully paid up member of Ali Baba Museveni’s Gang of Forty Thieves, and has been convicted of criminal offences involving financial impropriety or dishonesty). Mrs Kigongo therefore will be required to provide proof of her shareholding in the company to avoid her case being summarily dismissed. 2. It is possible for Mrs Kigongo to claim that the respondent company transferred shares to her in an unwritten agreement. Oral agreements are valid in law- the only obstacle is that Companies law requires the names of all shareholders to be declared in a statutory form and so I dont think this is a very viable angle for Mrs Kigongo to pursue. There is in fact a procedure for allotment or transfer of shares, contained in the Company’s Articles and Memorandum of Association, which must be adhered to, for eg such declaration needs to be done at a Shareholder’s meeting ( Annual or Special) and filed with the Companies Registrar and I don’t think Mrs Kigongo has any evidence of this. READ MORE AT: ugandansatheart.org/2015/01/24/free-legal-advise-to-the-kigongosmarried-or-not-married-mrs-kigongo-has-a-legal-and-enforceable-claim-on-mr-kigongos-assets/
Posted on: Sat, 24 Jan 2015 10:30:56 +0000
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