The Express.
London, England, 1866-03-12 00:00:00

LAW INTELLIG]
(THIS DAY.)

HOIJBE 01, LORDB.-A

WILLIAMS V. MAZIMMO: -?AMILLOPI

This ems mane lakes the hums oni
tabus of an appeal from a dual°. of
Westbasy, aid was the filet of thpeer I
referred to this tri under the
repay Ad of 1861,buna byl which the Lo
he deems the matter ci law or equity
ruptcy to be of suakient difficult oar s 4;
the daisies of their lordships'
certify a case for their osesideratioo.
Thomas Williams, the appellant, be
the Prolusions] Life Amoureuse Comps
in 1847, which was ordered to be wou
I and he was Owed cm the list of °mad!
of that year. In October 1881, the A
came into operation. Oa May 1d,1862,1
Oostfibtitories by the omeasser
dent), and In June, 1864, a further ell
of which was paid by the appellant.
the respondent petitioned tor an a
mew against the appellant, be not
the cuandesiocor in beakraptcy do
being of opinion that the petitioning
sot contracted after the paring of
1861, within the meaning of section
appeal to the Lord I,or, his k
the commadoner, and remitted the
mike, and the apepalleat was dr
oa further appeal the Lord Ohs=
adludiestion, red the present appea
questions were whether the sum ord.
as official manager to he pad by the
contracted after the pacing of the Ba
and whether, assuming it to be such
which an adjudication in beakrui
founded. The appellant °alluded
I effect of the Winding-up Acts were
any new indebtedness or liability oe
tories, and that the 90th section ci
did not bring parsons not being trad
lion of the baalauptcy laws, wham
*Mooing creditor arose oat of or i
made previous to the pawing of
actual liability to pay is subsequent
The respondent's argument was
for talk made in Kay, 1862., and Sus
debt accrued or became due from the
the debt on which the adjodkat
therefore °entreated after the psi
Apt, 186 L
Hr. J. Napier Higgins and Mr. 8
the appellant; Hr. Bacon sod h
respondent.
The owe was argued on the
month, and judgment was now give
The Lord Chancellor said that
question involved, it wee usemeary
which the 90th make had in view
not a trellis °mid not net be DU
contracted before the sat of 1861, al
adenstion, be bad no hesitation I
entered into before the passing of
construed to apply to a liability *
fact enema the apt came into
no objection to this liability t
sash a debt as could justify an scljr
of a pence not being a trader
Westbury should, is his opinion, b
insured in the coeds below vegeta
Lord Ohalmsford—Laying down
was not under his etatutable
ion of an ordinary creditor in rot
beekeeper., • and coneurriag on tl
that there did not exist in this oaa
arediters debt to Meetly an adjudie
Lord Kinpdown also coacarred
did not oonstitute a new debt, b
amount due, and the appeal was at
EQUITY 001
(Before the Master of
▪ ANOLO-OILUE MAN navies
His lordship pgae
.judgment in
said, was an eyelashes by two she
company. His lordship reed from
Act the grounds
2=,ille therein prescribed I
wise. The first four of
questionto the present owe ;
q was whether it wee
*Judaea with the other
larmias t 6 applCaatiou it was nese
dition of the outplay. His lord
point, after carefully reading the
sad sates of the shotibend s
faveurahly of the prespecta
wen properly naffed os and
heavy also-mats, &a The supp
was valuable, and, having regsr
his lordship thought the associatic
good returns wakes crippled
penmen and heavy loam. If t
the course would be clear, •
have been dismissed. The
tacked the directors of the et
obliged to appear in their own dale
the directors may afford troll
sharehetders without giving
up. It was the duty of dire
these folly to explain the affl
the shareholders. Besides a
case were brought against
His lordship said so plea by wbk
by the directors wittiest lasing pa
holders, in the games of Krim
be sanctioned by the court. 111
120th aid 130th dames of the art
to the mount tobepaid to %eau
hag the sherehoblees had knowledi
the reuniumeatica emissive. ilo •
directors' remuneration. This w
the public liked to subscribe th
the evideooe disclosed another
made public. net, the charm&
paid up shares, 7501. is cash from
foe which was mid to be the nant
might being to bear in the admin
business. Tore might have hese pr
WY sot divulged to the public. I
as between the directors thsrawit
not be thereby 'tapered as regard
,•
it might be otherwise. Acs
Mr. flagon. If this had b 1
own money, the use would h
directors ought to have roe
of income, but if directors
any advantages sot &Wooed to
could not be approved of, and it'
sate between the advantages to
The concern was one requiring r
of the oostract for the mesa
Xmas' broker, commission
paid by the shipbuilders, in wl
wu to share. The court
the principles applicable to true
In the cue of " Mr. Hudson v. 1
pany," his lordship had held that
a director out of dealings Is rope
noises such dealing be quite with
pany. is this coacera large calls
plaoeof misingmoasy through lb
at a grestaaordice. His
'ion to be paid to the Imperial n
shares given to the Railway Fios
detrimental to she interests of
the practice of raising mosey by t
his lordship thought there was
for the concern. The coed
might have afforded ground for
' improper and unsound in the
ground for winding-up a woven:
insolvent, but far from it. The
be dismissed, and with costa. L
appears ace of the several parties,
liming to the court to resist
at their own risk. la say otl
no limit to the costs. If e
and the amiefailed he would get cc
eircumatsoces in each of the cam
his lordshi p midis& bad hesitated c
Admiral :Mot, the Imperial Fine
Finance Ocespaay, Kr. For, Mr. .1
all appeared separately =ol
in the petition. AA to
disproved, and he would have hit
Elliot, his lordship read the all,
clearly of opinion that the schen
that there was no collusion. and
bees gives to the admiral but fe
the 3,0001. and 7501. without the
holden. moreover, if the
dead before the petition e
the charges would not have been
ethideeed under what eirenenti
eselieg. As to the Railway Fie
aphid them could not be uteri
// it did, a wholly collateral Is
Fez was wholly unfonaded, and
The charge 'gated Havresordato
sientially tree. He bad paid no m
the oompany took shares in fader
bus no eats. As to Xanos, the eh
were wholly disproved. He
modern Greek which his I
was genuine, mad whit& el
ci the °oedematous ; bat
esumimice from e builds
Is Admiral Elliot, to
his lords
charges of baud were wholly
give outs of his separate appeem
AMA to ides the essistanes of to
bands. end amok chow to its out
have derived so basalt fro/ the
known to the shareholders and
His kadship co eluded an slabs
this is merely an sallies, with a
to the mode in which this pet
The politica so doubt was
presented in another name, and
, affidavits pon matters et whichi
I Thy had gadd simply tee *moth'