The Sun.
London, England, 1856-11-04 00:00:00

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E

LAW INTELLIGENCE.—(This Day.)

VICE CHANCELLOR'S COURT.
THE ROYAL BRITISH BANK.
(Before the Vice-Chancellor Kindersley.)
Mr. Rolt, with whom were Mr. J. Brown and Mr.
Gifford, moved, this morning, to dissolve the injunction
which had been granted by his honour to restrain
Mr. C. Lee, the official assignee of the bank in bank-
ruptcy, and Mr. J. Johnstone, the bankruptcy mes-
senger, and their respective solicitors and agents from
in any manner acting upon an order of the Court of
Bankruptcy in this matter, dated the 10th of October,
or disturbing Mr. Harding, the official manager ap-
pointed by the Court of Chancery, in his possession
of the estate of the bank. The learned counsel also
showed cause against the rule nisi which had been
granted by the Vice-Chancellor for the committal of
Mr. Lee and Mr. Johnstone for a contempt of
court, on the ground of their having interfered
with Mr. Harding in his possession of the pro-
perty of the bank, and he also moved that Mr.
Harding, the official manager, might be ordered
forthwith to hand over to Mr. Lee, the official
assignee, all monies and securities in his posses
sion, and to do all acts necessary to put Mr. Lee into
complete possession of the estate and effects of the
bank. With regard to the alleged contempt, the learned
counsel stated that the bankruptcy messenger retired
from the bank premises upon the order of Mr. Harding,
but that shortly afterwards, in consequence of an ar-
rangement between Mr. Harding and the Messrs. Link-
later, the solicitors to the bankruptcy proceedings, the
bankruptcy messenger returned to the premises, it being,
however, understood that he should not in any manner
interfere with Mr. Harding's possession, until the ques-
tion whether Chancery proceedings could go on against
the bank simultaneously with the proceedings in bank.
ruptcy. No contempt had ever been committed, or was in-
tended to be committed by any person connected with this
case of the order of the Court of Cnancery, and it would
seem that the bill to restrain the official assignee and
the bankruptcy messenger from interfering with Mr.
Harding's possession, and to commit them for contempt
of Court for having so interfered, was simply to obtain
costs. With respect to the question whether the bank
could be proceeded against simultaneously in the
Court of Chancery and the Court of Bankruptcy, the
learned Counsel referred to the last act of Parliament
relating to the winding up of joint-stock companies, and
contended that it was manifest, from the language of the
act, that it was not its effect, neither was it the intention
of its framers, to prevent the two proceedings going on
together in the two Courts. The act itself, in fact, ex-
pressly mentions that, upon the consent of the
official assignee in bankruptcy of a joint-stock com-
pany, unable to meet its engagements, proceedings
might be instituted in Chancery for the purpose of more
effectually winding up its affairs. He contended that
the legal estate of the bankrupt was at this moment in-
vested in the official assignee in bankruptcy, and that
by a title anterior to that of Mr. Harding, inasmuch as
the adjudication in bankruptcy related back to an act of
bankruptcy which was committed by the bank on a day
previous
to that on which Mr. Harding was appointed
official manager by the Court of Chancery, and that
without his authority no action at law could be insti-
tuted against any of the debtors of the bank for the re-
covery of money due to the bank ; that the proceedings
in bankruptcy would speedily and cheaply divide the
assets amongst the creditors ; whereas the case would
be different if the proceedings were to be exclusively in
the Court of Chancery, and that it was the intention of
the Legislature in such cases as these to permit the
creditors to institute proceedings in bankruptcy, and
leave the shareholders to adjust the claims between each
other in the Court of Chancery.
The motion of Mr. Rolt is opposed on behalf of Mr.
Harding, the official manager, appointed by the Vice-
Chancellor, by Mr. Glasse, and Mr. Lewis.
The arguments are expected to occupy the whole of
to-day and to-morrow.

COURT OF EXCHEQUER.
:Sittings in Banco before the Lord Chief Baron Pollock,
Mr. Baron Alderson, and Mr. Baron Bramwell.)