Moreover, the Listings Company did not acquire standing with regard to the management of the company, and in any case the Listings Company was not involved at any stage in the management of the company and its activities.
This is not the opinion of the respondents. According to them, the matter of registering the shares in the name of the Listing Company is substantial, and once this registration is made, the party directly related to the liquidation request is the Listings Company and not Milmus.
In a hearing held by this Court on October 18, 2001, at the stage of the preliminary examination of the liquidation application, the following decision was rendered:
"In the circumstances of the case and in view of the aforesaid result, there is no reason to delete or reject the application [the liquidation application], but because it was not filed by the person who actually and in fact holds half of the shares of the company. However, it is necessary to amend the main application, so that the applicant for liquidation will be the one entitled to request, since he is a valid party to request the liquidation."
Such a request to add the company to the listings to the liquidation request was not filed, and as part of its summaries in the "summary of the dismissal claim", Milmus requests that the court allow the amendment of the application, as aforesaid.
The Respondents' Arguments
- Three are the main arguments of the respondents:
(a) The company does not have a "register of shareholders", and in any case it is not possible to register Milamus as a shareholder;
(b) Milmus' request to register the transfer of shares was not approved by the company's board of directors. This decision was lawfully made. Milmus did not see fit to take any action to approve the transfer of the shares from the foreign companies for its own sake, or to bring about its registration as a shareholder, inter alia, pursuant to a court order. In these circumstances, she has no choice but to complain about herself;