The British Press; or, Morning Literary Advertiser.
London, England, 1825-08-23 00:00:00

IXTF.LLIGENCF►.

COURT OF CHANCERY, MOsDAY Auo. 22.

EXPARTI SAITER 1W THE MATTER OF AIARSII, STRACFT,
AND CO.
The RD CHANC FL T.OR alluded to this case, and observed—l
stated rat if I mentioned nothing to the contrary in Court this
mortals , the order was to be taken as I pronouncil it. I have
given the ease the greatest attention because of its import/wee. and
because of the great respect which is due to the judgmensidelivered
elsewhere. My opinion in contrary to that judgment ;•I will not
my it is a better opinion, but different, it is my ditty to act
upon my own. It the partiesillagglissatistied, the case is one ni no
much difficulty that cerhatuly I should not object to its being re-
heanl.

IN THE MATTER 01' WATT A Bp YkTu'r T.
His Lonosiiir observed, that in this nee there have been
laid before me papers containing accounts of the .ales
made of the estates of the bankrupt, presto-43 to the riming
of the commission, of those made between the date of the com-
mission and the period at which the petition fur superseding
that commission was presented—and also of those that were
made since the presentation of that commission. There are eir-
t4IOIIAPICV4 in this cage, which appear to me to reunite, on the part
of all the persons concerned, very great consideration. The bank-
ruptcy arose out of a deed, by which. Mr. Wade conveyed over
certain estates, in trust, to certain persons, in order that they might
sell the property so moseys-4, far tl.e purpose of paying his ere-'
ditora. The tnist deed .was for some time acted on ti% a deed for
the *life'y of all parties; but It wan at length found out by the
trustees that the property sin not :sufficient to pay all the demands.
The trustees, therefore, apprehensive that their situation was ene
which might !rad to much difficulty and lons, endeavoured to die-
entioulas% thentarlves by making an attempt, which, I cannot help
saying, it was fortunate was not carried into exc.:whin, to
induce three young ladies, daughters of Mr. Wade, to make
an ani.l7,nuient of their portions tier the payment of the
creditors ; and probably, if this attempt load ',weenie& and
the young ladies had been stript of ati they had in the
world, we should never have heard of this commission of
bankrupt. The young ladies were, however, better astable:4l,
and :hey refused to make any such assignment. The com-
mission of Bankruptcy was then token out by Memo.. Rabbets
and Mayhew, who were trusters. and also the assignees; and it is
to be noticed that the professional bill of those gentlemen amounted
to no less a sum than 212/...__ft charge vastly beyond any that I
can recollect svirliin the whole course of my professionallite. It
was certainly a most singular circumstance that the trust-deed malrl
executed tinder the advice of those gentlemen. both of whom were
trustees, and yet that thin very trust-deed should have been made
the act of bankruptcy. Because it was necessary, perhaps, to ex-
hibit the petition for a commission as the work of others, two in- I
dividuals, whose dilate were to a very small amount, were selected
to become the petitioning creditor.. But the view I take of the case
is this: that though it man have the semblance of bring the cont.
minsion sued our by those individuals, it is, in fact, the commission
of those two gentlemen themselves. 1 cannot, however.look
upon this case without considering the parties cotcerned in it.
If the commission be superseded to-day, it is obvious that some
other conimisaion may be taken out to-rnotrow, so that Mr. Wade
may not be a whit the better for such et circumstance, but, on the
contrary, he niay be. as it regards pecuniary matters, much worse.
On the other hand the trustees, the persons who have purchased
under the trust deed, anti the assignees, will see themselves plated ,
in a situation which, whatever they may think, would be sufficient
to appal my mind. The trustees, the assignees, and the pur-
chasers should therefore disptvsionately consider whether or not,
this natter cannot be settled without the interference of the Court.
If, on the other ham,, the commission be supemeded, every act
must be reviewed and silted to the bottom—the petitioning credi.
tors must be celled, and the bill 1 have alluded to must be Call
mined thoroughly. in die next place, as to the meeting for the 1
choice of the assignees, I think it will be hardly possible to allow
that choke to stand, for it was made but by a few creditors, and
those whose debts were not to a large amount, while the advertise-'
mem for calling that meeting ass but a short time previous.
have made up my mind what to do, if I should be called upon to
give toy decision. I do, however, recommend an arrangement to.
take place without the interference of the Court; it would be to the
interest of all parties concerned, and let them take a ffirtnight or
three weeks to consider upon this proposal. If they cannot agree,
let the fact be commuoiatted tome, and I will deliver out my order
forth a it h.