The Sun.
London, England, 1838-08-20 00:00:00

LAW INTELLIGENCE.

COURT OF BANKRUPTCY, Auo. 18.
MARTIN SHEPHERD'S BANKRUPTCY.
The first meeting of creditors of the above bankrupt was
held to-day for the proof of debts and choice of trade assig-
nees. The bankrupt carried on business as a linen.dr4per,
Scc., at Warwick.
Little objection was raised to the proofs tendered during
the proceedings, which amounted in all to about 1,0001., alter
the admittance of which Messrs. Cox and Webster were ap-
pointed assignees, the former of whom resides in Wood-street,
and the bitter in Friday-street, London.
MESSRS. BAILEY, POTTER, AND CLIFT'S BANKRUPTCY.
The bankrupts appeared before the Learned Commissioner
with their amended balance sheet, having been adjourned no
less than three times.

Mr. Alderman T. Wood appeared for Mr. Toswell to sub-
stantiate a proof of upwards of 2,0001. He contended at very
greath length, that he ought to prove on the joint estate for
the whole sum.

Mr. Alderman Wood ultimately proved on the joint estate
for the the 1,700/., on the separate estate of Bailey for the
residue of the amount for the good-will, and on the separate
estate of Potter and Clift for the bills they had given as surety
for the payment of the debt, as agreed in the document be.
tween Bailey and Toswell.
An objection being raised to the passing of the bankrupts
the meeting again adjourned.
INS

OLVENT DEBTORS' COURT, Aim 18.
IN RE HENRY WOODTHOitPE.
Mr. Woodthorpe had raised considerable sums of money
by annuities, and the question was whether or not the annuity
creditors were enabled to receive a dividend with the simple
contract creditors, or whether the annuities should be pre-
viously valued, and a dividend paid to them on the valuation.
-The COURT asked Mr. Crowther, one of the assignees, by
whom the point was submitted, whether he wished to make
any further observations. ...The- Court understood he (Mr.
Crowther )- had seen Mr. Commissioner. Law on the iubjSct.
Mr. CROWTHER said, he had seen Mr. Comrd.ssioaer Law
on the subject. Mr. Commissioner Law was of opinion, that
the fairest way would be, to let the annuity credit.irs receive
a dividend on the principal sums, and lodge their securities in
Court. He ( Mr. Crowther) had no objection to do so, but
other persons refused. The annuity creditors declined, on
the ground that by the 51st section of the 7th Geo. IV.
their securities were secured to them, and that they
could raise money on them. The simple contract creditors
also objected to the course suggested on other grounds.
He (Mr. Crowther) also contended that the section of the Act
referred to protected the rights of annuity creditors, and that
they were entitled to their dividends. He had come from
Devonshire to press the subject, though there were persons
living in London interested in it. He submitted that he was
entitled, as an assignee, to be allowed his costs and expenses.
The Learned CHIEF COMMISSIONER said he could not make
the order for costs, but if Mr Crowther made out his bill, he
had no doubt it would be allowed by the Master.
had
riven . Crowther then
reti thred anked the Court for the attention they
hirc, and :

IN RE RICHARD CATON BORRELL.
In this case the insolvent applied to restrain his assignees
from perfecting the sale of a life interest in an estate at Grims-
by in Lincolnshire, on the plea of an inadequate price.
'The Cotner having heard affidavits on both sides, Said they
should refuse to interfere, on the ground that they could not
object to the purchase, which had been agreed upon.
IN RE RICHARD AMIS.
detain
ThiS p
ere riori petitioned in 1835, but compounded with his
ing ditors, and did not file a schedule. His debts
were 1171. At that time he was entitled to an annuity of
!ON., in which his mother had an interest; she had died since.
The assignees had sold the annuity for 5321, which was sworn
to be an inadequate value.
Mr. WODDROFFE said, the assignees were willing to pay
the balance into Court, but did not wish to get into a suit in
Chancery.
The Learned CHIEF COMMISSIONER ordered 4151. 16s. 9d.,
the balance, to be paid into Court, until further order on the
subject should be made.
In the course of the mdrning some doubt was expressed by
the Learned Gentlemen present as to the legality oftheir Ses-
sion. The Act under which the Court has been sitting hi-
therto expired immediately on the termination of the Parlia-
mentary Session on Thursday, and the new Act is not to come
into operation until the let of October next. The new Act
was not printed on Saturday, and a good deal of anxiety ex-
isted on the subject.