Read the full judgment text of HCA 009550/1993 on BabelCite. This High Court CFI judgment was delivered on 15 July 1994.
1. In this Action the Plaintiff claims the sum of $5,000,000.00 plus interest. That sum was paid on the 23rd June 1993 on behalf of the Plaintiff to the Defendant. The sum represented the initial deposit for the purchase of the entire issued share capital of Investar Ltd. Whereas the intention of the parties was that there would be a transfer of a building known as Connaught Building the transaction was to be effected by the transfer of the shares in the company whose only asset was that buildin