Ibrahim Alie Kabba v Mayila Deen Turay & Others (MISC APP 38/2024) [2025] SLHCFTCAD 1 (15 May 2025)

High Court of Sierra Leone, Commercial and Admiralty Division. Ruling of Abdul Rahman Mansaray J, 15 May 2025. The plaintiff, suing as a shareholder of Lyoa Global Limited, applied by originating summons dated 22 August 2024 under section 256 of the Companies Act 2009 for orders about the company's bank account signatories, audited statements and interim injunctions against the first and second defendants. Under sections 126(1) and 127(2) of the Companies Act, until the transferee is entered in the register the transferor is deemed to remain the holder of the shares, so the plaintiff was still a shareholder between 8 September 2022 and 16 May 2024. From 16 May 2024, when the transfer of his shares was approved and a special resolution altered the subscribers, he ceased to be a shareholder. The summons was filed after that date. Relying on Ogunmokun v Military Administrator of Osun State and Oloba v Akereja on locus standi and jurisdiction raised by the court of its own motion, the court held that the plaintiff lacked capacity and the court lacked jurisdiction. The originating summons was struck out and the applicant ordered to pay costs, to be taxed if not agreed. The pages read for this report end here. The judgment continues in the PDF.