- 116 -A joint-stock company may only be established by an order issued by the Khedivial authority approving the conditions included in the company's articles of association and authorizing its formation." Article 47: "All joint-stock companies established in the Egyptian territory must be Egyptian and their original headquarters must be in the said territory." Thus, the nationality of the company is determined in Egypt by its formation and its headquarters. The judgment issued by the Mixed Court of Appeal on April 29, 1908, which overturned the judgment of the Alexandria Court and ruled the company (The Egyptian Land and Agricultural Company Limited) null and void. The intended meaning of the word "established" in Article 47 is that "the establishment of the company means its formation by an assembly to sign the contract specifying its rules and conditions and its management with the aim of obtaining the necessary license by subscribing to the capital. The theory in that judgment can be summarized as follows: from the Commercial Code that joint-stock companies established in Egypt The nationality of the company is therefore determined in Egypt by its original formation. If the company is truly established in Egypt, it must comply with Egyptian laws in its establishment in order to be considered in this country. Therefore, the mere fact of the company's establishment in foreign countries does not affect its Egyptian nationality. This, along with its failure to comply with Egyptian laws in its formation, results in its nullity and non-existence.

In discussing the second issue, which was the point of contention between the Mixed Court and the English Consular Court, its summary is: Do the Mixed Courts have the right to consider these matters concerning English companies in Egypt?

The argument of those who object to the Mixed Court of Appeal's judgment, and who support the opinion of the English Consul, is that companies, like individuals, have personal status that only their competent courts can adjudicate. They say that English companies acquire English nationality by their registration in England, and no foreign court can deprive them of that nationality. They then say that the capitulations prevent Egyptian courts from ruling on the nullity of a company.