The Express.
London, England, 1858-03-29 00:00:00

LAW INTELLIGENCE.
THIS DAT.

EQUITY COURTS.
Maim Übe Lords Junior of Apra)
DE Tilt )101T111011111/11-AXIS •ND DURHAM DISTRICT

111401111 NU tOsIVANY.
The argument epos this came, after a duration of errors]
days, was this day concluded.
The appeal was from an order of the Vice-Classoellor IE in-
• wlaemby he steyed all proceedings in an action brought
by a creditor evilest the company, until further order the
company undertaking to submit to judgment u the
court should direct. This order, the appellant contended,
ought sot to hare been made, leaser ae—althoogit an
order to wind up the company under the provisions of the
Joint Stock Conspenie Acts a ltdd and 11137 wanpariin—
each petition was not binding upon the eyelike; heassauth as
rlar company had never Wen registered under the
sots until after It had stopped payment, and was
therefore so longer carrying on the bieinese of bankers.
The Vice-Chancellor, however, had, notwithstanding this
circomstaies, made the order, considering the registrar'a certi-
ficate of registration OZOCIVairi against any objections/I to whe-
ther the compsay ought to have been registered. It was farther
argued opts the &Kral that, supposing the registration to
be valid, the court had still a cheered= to oblige the
;erten in winding np to resort to the provisions of
the prior compulsory arta ; and that, haying regard to the
wisdom in the right, of creditors under the winding-up
promediege introduced by the later acts, one en mercies of
their decree= would be the met just on regarded the cre-
ditors interests in the present case.
Mr. °lure. Q C.. Mr. Say, Q.C., Kr. Teller, Q.C.,
Mr. Anders m. Mr. Selwyn, Q.C., Mr. W. D. Lewis, Mr.
Thrieg, Mr. W. hi. Gitferd, Mr. Dig Us, Mr. T. T. Thomp-
sce, and Mr. Yield, appeared for the perlies.
Their Lordships said they would nerve their decisions
till the ant Mos:l,4y in Easter Ora, sad that In the mean-
time the present liquidators would hairs ea opportunity
of preparing their scheme for the caudate of the winding -up
Precceduir. ihe curt however not p'edging itself to
idles suck scheme when produced. It would be as
der theta also to be reedy with a Mam-
mal mf the elate of the erste of the compaiy, and of
Me probable thee required for their collection ; also of the
smeared 1 sinker owly by the company, distinguishing:
dare which were sricare and those which were un-
wend.

(Before Vice-Chancellor Sir W. P. Wood.)
to U THt LONDON t‘DIASTERM BANKING CORPORATION.
Mb erne a motion to restrain Sir Charles Forbes, Mr. J.
Ilbselmeon, and Mr. John Bowman, the pleintiffela an action
lathe IL:chequer of fleas against the London and Eastern
)es Corporatioc,from taking any proosedings against the
Imaideig company ts make them bankrupt. Sir C. Forbes,
lei Si other persons mentioned are holder, of • bill of et-
ching% and they commenced an action against the company
to mew the walnut, bat Mr. Baron Martin granted an
ceder to restrain them from proceeding with it. They
t= took !Intruding in order to obtain an ad-
jin bankruptcy against the company, and it wee
to stop those proceedings that this motion was made. In
supportea GM, motion it was contended by counsel for the
that was the object sad intention of the
20th aaleltrit It
Victoria, which was pseud in consequence of
the relative to the British Bank, to prevent shue-
hol from barraged by prooredings in curious courts,
end that set especially provided that after • winding-up order
had been mad. no creditor should be at liberty to bring any
action. The winding-up order was made some months ago,
and under it • representative of creditor. had been ap-
pointed, and as the whole estate wee vested in the oftldW
manager he could not be divested by • flat in bankruptcy.
Mr. Amphlitt, who appeared for Sir C. Forbes and the
other persons who were sought to bereetrained,rubmitted that
the court ought tat to interfere to prevent creditors from ex-
inisinir their right.. There was only one cue °Attwoncl v.
Banks' (2 Beaver, 192), in which the court had restrained a
creditor by irjancti.in from obtaining a flat in bankruptcy
aspurist his debtor - bat in that one there was
an equity, whereas there was nose hero. Moreover be con-
eroded that the legislators evidently did not intend to pre-
vat joist-stock companies being made banknipt, inasmuch
as the words of the 7th clean were that " no such action
se is mentioned in the 73rd section of the Joint-stock Com-
pany'. Winding-up Act, 1545, shall be commenced or pro-
ceekd with otherwi-• then for the purpose of making the
company bankrupt." This ooreplay he said stopped pay-
ment tweivsnamutts ago, and not a sixpence had been paid to
the creditors, and he had so doubt that if his Honour did not
Interfere to prevent their going to bankruptcy, the director.
would cocas forward and make calls, and then the creditors
would get at least some je.rtion of their debts.
Mr. MtNaughteli followed on the same skle, and Mr.
Hetherington having replied
Mr. Daniel. who ap&eared for the representative of the
creditors, said he thou oder no objection to proceedings
being taken in bankruptcy.
Hy Honour, in riving judgment, sail he thought it was
evident the legislator, had intended to legislate upon several
times which were before it, but he could not say
re= moment tett he had a pre-i.e awl definite ides of
what the legislature intended to ettet. Bat on looking at
the whole mato of the ease, he doubtrd whether he ought to
Interfere to prevent errittors from exercising that
which would imidotabtrily tie their right but for this act.
Tbs wiedierup act was an act for the Imeseflt of sheer
holden, for the purpose of their making engagements inter
se, and the creditors only obtained payment as It were inci-
dentally. There would ens be the woe advantage in imining
• flat in bankruptcy in this owe that there was in the British
Batik cue, as in that cue the Lords Justices properly de-
cided that undo, the eirenreetances the origami. vented in the
officer of the Court of Bankruptcy, the official assignee, but in
this use they were already tread in the officer of this court,
the cads] manager. end he did not see that the issuing of a
flat would divest the official manager of them, and the me-
dium of working the flat must be through the winding-up
order. Nee coal the director. make up their balance-sheet,
without the aid of the Ali is.' manager, inasmuch es
he had all the docamente. Nevertheleee, on looking at the
set 20th sad 21-t Victoria, and seeing that it sad the wind-
ing-up act were to be continued mons t sing that the wind-
ier-upset previ.bal that the rights of creditor, should not be
taken sway except when It wee done by expels provision,
mid that sot only ea. then no experts provision preventing
the endilors from pr needing in bankruptcy, but that,
ea the eicaMerv, rcoreedings were not to be taken except for
the purpose of bal...ruptcy, he should diatoms the motion,
lint dtrect the cost. of it to C. 190 Out or the estate.
Mr. Rolt intimeted thee It was the intention of his client to
appeal to the Lords Justices.

COURT 07 BANKRUPTCY.
MAIN lb. Comulooloner Goolburo.)
Ms Ewer garb =bag in some amitotic, camel that
Ira bun burl
LAM Talk, orrehiat, of Bt. )(Arpin-Hill, had him ter-
Moab ougoollod Orr oh winks (three mouths without pro-
Wien) . Ar • bastions /dent. to an 'elm.
Xonn. laewria, of Recrat,irroa and el=
nits had aesepled abnaushodation bale largely for X
=, woo &vernal a thud-clam eirtilksto Ono bribe
onnaunion.

THE POLICE COURTS.

THIS DAT.