trustee in bankruptcy, and costs of motion to compel restoration paid by the grantee.-In re Fells, Ex parte Andrews, L.R. 4 Ch. D. 509; 46 L.J. Bpcy. 23; 36 L.T. 38; 25 W.R. 382. (lxxvii.) C. B.—Act of Bankruptcy—Bill of Sale-Registration.-Debtor gave bill of sale on all his property to secure past debt and further advances, stipulating that such bill should not be registered, but that he would, if called on, give a fresh bill which might be registered: the debtor having subsequently filed liquidation petition: Held that the agreement was valid, and that the giving of a fresh bill of sale in pursuance thereof was not an act of bankruptcy.-In re Jackson, Ex parte Hall, L.R. 4 Ch. D. 682; 46 L.J. Bpcy. 39; 35 L.T. 947; 25 W.R. 382. (lxxviii.) C. A.-Adjudication.-The hearing of a petition for adjudication was adjourned after proof of act of bankruptcy, to enable debtor to make arrangements for payment of his creditors: at the adjourned hearing debtor tendered to petitioning creditor the amount of such creditor's claim and costs which was refused: Held that the Registrar rightly made order for adjudication.-Ex parte Brigstocke, In re Brigstocke, L.R. 2 Ch. D. 348; 35 L.T. 831; 25 W.R. 262. (lxxix.) C. A.-Bill of Exchange-Notice of Dishonour.-On bankruptcy of drawer of a bill of exchange which was dishonoured, holders knowing of the bankruptcy but not of the appointment of a trustee, gave notice to the bankrupt at a former address which was alone known to them: Held that the notice was sufficient.-In re Bellman, Ex parte Baker, 25 W.R. 454. (lxxx.) C. A.-Composition-Action by Creditor-Injunction.-The Court will not restrain an action by creditor against compounding debtor unless vexatious or unfounded.-Re Lopes, Ex parte Lopes, 36 L.T. 275; 25 W.R. 419. (lxxxi.) C. P. Div.-Composition-Debtor's Statement.-Where a creditor is an assenting party to a composition the debtor is released from all debts owing to such creditor, though not included in debtor's statement.Wilson & Brown v. Breslauer, 36 L.T. 18. (lxxxii.) C. P. Div.- Composition-Debtor's Statement.-F. drew bills accepted by W. for £8,000, indorsed to the N. Bank, the bills being secured by mortgage of a ship: W. having filed petition for liquidation or composition by his statement stated F. to be a secured creditor for the £8,000: subsequently the bills were transferred to F.: Held that the composition was a good defence to action on the bills.-Forwood v. Walker, 36 L.T. 21. (lxxxiii.) C. J. reso B.-Composition-Resolution-Registration-Proxy.-A lution for composition having been put to the vote and lost, debtor's solicitor produced a creditor's proof and his proxy signed in blank, it was received under protest, and the resolution was declared carried, and was subsequently confirmed and registered without notice to objecting creditor: Held that the proxy was void, and the registration could not stand.-Ex parte Bailey, Re Lancaster, 36 L.T. 72; 25 W.R. 381. (lxxxiv.) C. P. Div.-Composition-Debtor's Statement.-Pending an arbitration defendant filed petition for liquidation, and a composition being agreed to, he included in his statement the plaintiffs as creditors for the full amount claimed, with a note appended that the claim was disputed: Held that the claim was sufficiently inserted in the statement.-Melhado v. Watson, 36 L.T. 18. (lxxxv.) C. A.-Composition-Guarantee of Instalments-Subsequent Bankruptcy-Release of Surety.-Decision of Q. B. Div., see Bankruptcy (li.), p. 48, affirmed.-Glegg v. Gilbey, L.R. 2 Q.B.D. 209; 35 L.T. 927; 25 W.R. 311. (lxxxvi.) C.J.B.-Composition-Resolution-Registration.-Debtor's statement showed assets £50, liabilities £1,366: Held that a resolution to accept 6d. in the pound was reasonable, and must be registered.—In re Williams, Ex parte Williams, 25 W.R. 432. (lxxxvii.) C. J. B.-Composition-Solicitor's Lien.-Creditors of C. accepted composition payable by instalments; no trustee was appointed: C.'s solicitor paid first instalment out of debtor's money, and having received from debtor and his sureties further monies, sufficient for payment of second instalment, paid some of the creditors, but C. having absconded, retained the remainder, claiming to have a lien thereon for costs due from C.: Held that the solicitor had constituted himself trustee for creditors, and must apply the remainder of the money in paying the second instalment. In re Clarke, Ex parte Newland, L.R. 4 Ch. D. 515; 35 L.T. 916; 25 W.R. 275. (lxxxviii.) C. J. B.-Equitable Mortgage-Fixtures-Bills of Sale Act.-An equitable mortgage of leaseholds by deposit of deeds will not pass trade fixtures as against trustee in bankruptcy without registered assignment under Bills of Sale Act.-Ex parte Tweedie, Re Trethowan, 36 L.T. 70; 25 W.R. 399. (lxxxix.) C. A.-Execution Creditor.-Possession money may be taken into account in ascertaining whether execution against a trader is for a sum exceeding £50.-In re Grubb, Ex parte Sims, 25 W.R. 453, affirming decision of C. J. B., reported L.R. 4 Ch. D. 521; 36 L.T. 40; 25 W.R. 276. (xc.) C. J. B.-Liquidation-Discharge. - Undischarged debtors re-com. menced business, and afterwards filed a second liquidation petition: creditors under both liquidations resolved that he should be entitled to discharge on payment of £475 as purchase-money for his estate: this whole amount was, under Order of Court, paid over to the trustee under first liquidation; Held that debtor was entitled to discharge without further payment to trustee under second liquidation.-In re Caughey, Ex parte Caughey, L.R. 4, Ch. D. 533; 46 L.J. Bpcy. 18; 36 L.T. 39; 25 W.R. 308. (xci.) C. P. Div.-Liquidation-Discharge-Barred Debt.-Held that a certificate of discharge was a good answer to the claim of a creditor, without notice of liquidation, and whose name was omitted from debtor's statement, in respect of a debt incurred before the discharge: a promise to pay a debt barred by discharge cannot be enforced.Heather & Son v. Webb, 46 L.J. C.P. 89; 25 W.R. 253. (xcii.) C. J. B.-Liquidation-First Meeting-Resolutions-Where registrar summoned creditors to meet at a place other than that mentioned in debtor's affidavit: Held that the resolutions were invalid, but gave leave to debtor to summon a fresh first meeting.-Re Mayer, Ex parte Lewis, L.R. 4 Ch. D. 519; 46 L.J. Bpcy. 33; 35 L.T. 915; 25 W.R. 275. (xciii.) C. J. B.-Liquidation-Receiver.--Where creditors wish to appoint a receiver of their own, in place of a receiver appointed by the Court, they must show good reason for the application, and indemnify the outgoing receiver against all costs, expenses, and liabilities incurred by him.-Ex parte Rylands, Re Chester, 36 L.T. 264. (xciv.) C. J. B.-Liquidation-Resolutions.-Creditors at a general meeting resolved that a liquidation be agreed to, that a trustee be appointed, and that such trustee sell debtor's estate so as to pay to creditors a composi tion: Held that the resolutions, except that for the sale of debtor's estate, were good, and that an injunction must be granted to restrain a creditor, not a party to the proceedings, from enforcing an execution against debtor.-In re Dugdale, Ex parte Dugdale, 25 W.R. 468. (xcv.) C. J. B.-Liquidation-Undischarged Debtor-Earnings.-Liquidating debtor, a painter, before discharge contracted to paint a yacht for £49, representing £15 for debtor's labour, £15 for wages of workman, £10 for materials, and £9 for profit: he got the materials on credit, and borrowed money to pay wages: Held that the trustee was entitled to the whole amount.-In re Dowling, Ex parte Banks, L.R. 4 Ch. D. 689; 36 L.T. 117. (xcvi.) C. A.-Proof-Annuity.-An annuity during life or widowhood is not a debt "incapable of being fairly estimated" under Bankruptcy Act, 1869, s. 31.-Re Blakemore, Ex parte Blakemore, 25 W.R. 488. (xcvii.) C. A.-Proof-Mortgage-Interest Varying with Profits.-By a mortgage of leaseholds to secure a loan to a trader, it was provided that mortgagee should receive a share of the profits in lieu of interest: Held that 28 & 29 Vict., c. 86, s. 5, precluded mortgagee from recovering his debt in competition with the other creditors, but did not affect the security.— In re Lonergan, Ex parte Sheil, 36 L.T. 270; 25 W.R. 420. (xcviii.) C. A.-Proof-Partnership.-Decision of C. J. B., see Bankruptcy (lxv.), p. 50, affirmed.-Ex parte Armitage, Re Good, 25 W.R. 422. (xcix.) C. J. B.-Reputed Ownership-Debenture of Company-Trade Debts.A debenture of a company is a chose in action within Bankruptcy Act, 1869, s. 15, sub-sec. 5, and an assignment thereof by indorsement in blank is good against trustee of bankrupt assignor, although assignee does not give notice to company before the bankruptcy : the words "debts due to the bankrupt in the course of his trade," include only debts connected with such trade.—In re Pryce, Ex parte Rensbury, L.R. 4 Ch. D. 685; 36 L.T. 117; 25 W.R. 432. (c.) C. A.-Secured Creditor — Receiver — Priority — Notice. - Decision of C. J. B., see Bankruptcy (lxvi.), p. 50, affirmed.-Re Lewer, Ex parte Garrard, 36 L.T. 42; 25 W.R. 364. (ci.) C. J. B.-Stoppage in Transitu.-Goods directed to W. were on arrival at F. warehoused by C. & Co., as agents for the shipping company: C. & Co. used to inform the consignees of the arrival of the goods, and to forward them, as instructed, by and at expense of consignees: Held that consignees were entitled to stop the goods in transitu until the consignees' instructions were received by C. & Co.-Re Worsdell, Ex parte Barrow, 25 W.R. 466. (cii.) C. A.-Stoppage in Transitu-Vendor's Lien-Bills of Sale Act.-W. agreed to supply goods to L. for shipment to Shanghai, the vendor to have a lien on bills of lading and goods: before the goods arrived at Shanghai, L. became bankrupt: Held, upon the construction of the agreement and the facts of the case, that W. was entitled to stop the goods in transitu until their arrival at Shanghai: also that the agree. ment did not require registration under the Bills of Sale Act.-Ex parte Watson, Re Love, 36 L.T. 75; 25 W.R. 489. (ciii.) Q. B. Div.-Stoppage in Transitu-Delivery of Bills of Lading— Vendor's Lien. - Plaintiff bonâ fide received from G., as additional security for an advance previously made, bills of lading of a cargo consigned to G. by defendant, against bills of exchange accepted by G.: Held that defendant, on the insolvency of G., was entitled to stop the cargo in transitu, as plaintiff had not made the advance on faith of delivery of the bills of lading.-Leask v. Scott, 35 L.T. 903. (civ.) C. A.-Trustee-Fresh Action-Estoppel.-Decision of Ex. Div., see Bankruptcy (lxvii.), p. 50, affirmed.—Bennett v. Gamgee, 46 L.J. Ex. 204; 36 L.T. 48; 25 W.R. 310. Bill of Sale :- (vii.) C. J. B.-Fixtures - Registration 17 & 18 Vict., c. 36.-Debtor H assigned by way of mortgage leasehold land, together with engines, machinery, plant, &c., placed or used thereon, to hold the land and such of the machinery, &c., as were landlord's fixtures for the residue of the term, and such as were tenants' or trade fixtures to the mortgagee absolutely, and the deed gave power to the mortgagee to sell the premises, or any part thereof, either together or in parcels: Held that the deed empowered mortgagee to sever the trade fixtures and sell them separately, and required registration under the Bills of Sale Act.In re Eslick, Ex parte Alexander, L.R. 4 Ch. D. 503; 46 L.J. Bpcy. 30; 35 L.T. 914; 25 W.R. 260. (viii.) C. A.-Growing Crops.-Held, affirming decision of C.P. Div., that growing crops, not being capable of immediate transfer by delivery, are not within the Bills of Sale Act.-Brantom v. Griffiths, 36 L.T. 4; 25 W.R. 313. Canada, Law of: (v.) P. C.-Appeal.-Order of Superior Court.-Held that an appeal lay to the Court of Queen's Bench from an order of Superior Court for the removal of Commissioners in expropriation.--Mayor, &c., of Montreal v. Brown, L.R. 2 App. 168. Charity: (i.) Ch. Div. M. R.-Action for Recovery of Land.-The sanction of the Charity Commissioners is not necessary, under 17 & 18 Vict., c. 137, ss. 17-18, to enable governors of a charity to bring an action for recovery of possession of lands of the charity.-Holme v. Guy, 46 L.J. Ch. 223; 25 W.R. 390. Common: (i.) App. Div. Ct.-Inclosure Act-Rate-Distress.-By an Inclosure Act, Commissioners were empowered to perform certain works, and were required to direct by their award "by whom and at whose expense, at what time and in what manner" the works were to be made and maintained: the award directed that the works should be maintained by a rate enforceable by distress: Held that an action would not lie to recover the amount of the rate.-Darby v. Watson, 25 W.R. 465. Company: (xxxii.) Ch. Div. V. C. B.—Directors—Borrowing Powers.-Where directors having borrowing powers issued debentures at a discount: Held that the issue was not illegal, and that a director taking such debentures was not liable for difference between issue price and par. Re Compagnie Generale de Bellegarde. Campbell's Case. L.R. 4 Ch. D. 470; 35 L.T. 900; 25 W.R. 299. (xxxiii.) C. A.-Director Qualification-Fraudulent Agreement-Misfeasance. -Articles of Association, alterable only by general meeting of company, or special resolution, contained no provision as to directors' qualification: the board resolved that qualification should be 250 shares: an agreement was afterwards entered into between the company and a promoter for, amongst other things, allotment of certain shares to himself or his nominees, and for the acceptance of his nominees as directors: R., nominated by the promoter, was elected director, being informed that qualification was 200 shares, which were allotted to him out of promoter's shares: he approved of a second agreement in effect ratifying the former: Held, upon the facts of the case, that R. was not bound by the resolution of the board, nor liable to contribute in respect of 250 shares, but that he was guilty of misfeasance in being a party to the agreement, and was liable, under Companies Act, 1862, s. 165, to pay the liquidator the full nominal value of 200 shares. -Re British Provident Life, Sc., Asson., De Ruvigne's Case, 25 W.R. 476. (xxxiv.) Ch. Div. V. C. M. & C. A.-Director-Trustee.-L., who had been a director of a company, bought at a reduced price debentures of the company which had been improperly issued during his directorship: Held by V. C. M. that L. was a trustee for the company, and was not entitled to make a profit by the transaction: on appeal the suit was compromised but the Court expressed approval of V. C. M.'s decision.— Re Imperial Land Co. of Marseilles, Ex parte Lurking, L.R. 4 Ch. D. 566; 46 L.J. Ch. 235. (xxxv.) C. A.-Misrepresentation-Prospectus-Sale by Promoters to Company -Qualification and Nomination by Vendors of Directors.-Decision of V. C. M., see Company (xxi.), p. 52, reversed.-New Sombrero Co. v. Erlanger, 36 L.T. 222; 25 W.R. 436. (xxxvi.) Ch. Div. V. C. M.-Novation.--The St. N. Co. being indebted to the E. Bank, was amalgamated with the Société de Commerce, which undertook the liabilities of the company: the Société having gone into liquidation, proceedings were taken in France by the bank to recover the amount due from the company at the date of the amalgamation, when it was decided that the Société was not liable: Held that the company, having omitted to effectually substitute the Société as debtor to the bank, remained liable for the debt.-Re the St. Nazaire Co., 25 W.R. 424. (xxxvii.) Ch. Div. M. R.-Resolution-Reduction of Capital.--A company having capital divided into shares of £32 each, on which (except as to 515 shares fully paid-up) £29 had been paid, passed a resolution in conformity with their Articles for reduction of the capital by extinction of £9 per share, retaining liability of £3 on each share not fully paid-up: Held that the Court had no jurisdiction to confirm the resolution.-Re Ebbw Vale Steel, &c., Co., 46 L.J. Ch. 24. (xxxviii.) C. A.-Vendor's Guarantee of Profits-Discontinuance of WorksEffect on Guarantee.-Decision of V. C. B., see Company (viii.), p. 9, reversed. Brown & Co. v. Brown, 36 L.T. 272. (xxxix.) Ch. Div. V. C. B.-Winding-up-Director's Qualification.-Articles of association provided that director's qualification should be the actual holding of twenty-five share warrants each representing one fully paidup share on appointment of the directors a promoter deposited with company's bankers twenty-five share warrants to the amount of each director as his qualification: Held that each director was liable under Companies Act, 1862, s. 165, for full nominal value of twenty-five shares. -Re Caerphilly Colliery Co., Pearson's Case, L.R. 4 Ch. D. 222. (xl.) Ch. Div. M. R.-Winding-up-Disputed Claim Injunction.The Court has jurisdiction to restrain by injunction the creditor of a solvent company whose claim is disputed from presenting a petition to wind-up the company.-Niger Merchants Co. v. Capper, 25 W.R. 365. (xli.) Ch. Div. V. C. B.-Windin7-up-Guarantee Fund.-Vendor of property agreed to invest part of purchase-money as guarantee fund for payment of dividends for four years: the articles of association referring to this agreement provided that the fund should be considered as profits and applicable only to the payment of dividends: Held that on winding-up of the company the guarantee fund must be paid over to the liquidator.-Re Stuart's Trusts, L.R. 4 Ch. D. 213; 46 L.J. Ch. 86; 25 W.R. 295. (xlii.) Ch. Div. V. C. M.-Winding-up-Liquidator.-The same person will not be allowed to act as liquidator to two companies having conflicting interests.-In re City and County Investment Co., 25 W.R. 342. (xliii.) C. A.-Winding-up-Maritime Lien-Leave to proceed in Admiralty Division.-Master of ship drew bill of exchange on company for expenses: the bill was accepted by the company, but dishonoured, and was paid by the master: Held that the master was entitled to order giving leave |