Indeed, if the company had acted lawfully and in law and maintained a "register of members" – a register of shareholders – it is possible that the respondents would have heard their argument, but this is not what the company did, and the respondents cannot shake their ground and cling to the situation in which they were among its creators. For this reason, the matter of the heart and the matter of fiber (household decks) are not similar to our case. Milmus purchased the shares and is the shareholder, even if they were not registered in the shareholders' register, which was not created and was not in the company.
- I have already said that the Applicant must directly attack the refusal to register the transfer of the shares to her. However, I am of the opinion that there is nothing to prevent the Applicant from continuing the proceedings of the application for liquidation as a participant, while amending the application and adding the company to the listings as an additional applicant and as a person holding the shares of Milmus as a registration company, only for the removal of any doubt. As stated, the absence of a register of shareholders in a company cannot prevent the filing of a request for liquidation by a shareholder who lawfully holds them. The absence of the registry becomes a technical matter in this case, when the company manages its affairs by two groups of shareholders: Cohen and Milmus, and a decisive shareholder. This matter was clear and understandable, it has been close to seven years for the respondents. In the conduct of the shareholders, and in our case the respondents, good faith is required. Insofar as the Respondents' considerations are not relevant and they require good faith, a kind of presumption is created that the shareholder who filed the liquidation application, even if he is not registered in the Register, that he submitted his application lawfully and in good faith.
Milmus cannot be regarded as legally registered as the owner of half of the company's shares, as long as it has not taken a special procedure in this regard. However, for the purpose of the application for liquidation, it can be considered to be complying with the provisions of section 260 of the Ordinance.