Lukaaga v Nabirinzi & 2 Others (Company Application 36863 of 2024)
Lukaaga v Nabirinzi & 2 Others (Company Application 36863 of 2024) [2025] UGRSB 2 (6 January 2025)
The court found that the transfer of two shares from Rosemary Mullo to Billy Cosmas Mullo was procedurally defective due to the absence of a board resolution, as required by Article 11 of the company's Articles of Association. Consequently, the transfer form for these two shares must be expunged, and the shares transmitted to the applicant as the personal representative of the deceased. However, the transfer of eighteen shares was supported by a valid resolution and transfer form, and the applicant failed to discharge the burden of proof that this transfer was fraudulent or irregular. The cou…
Source excerpt
- Share Transfer Procedure
- Rectification Of Register
- Company Membership Disputes
- Succession Of Shares