A petitioner served a statutory demand for more than andpound;4,000 on the company but the company bona fide disputed the amount due.
Held: The petition would be dismissed even though more than andpound;50 (the statutory minimum) was due from the company. However, ‘Far from being insolvent, this company is carrying on a thriving business, which I am asked to stop, merely because there is a quarrel between the company and the contractor as to what is due to him.’
Judges:
Sir John Romilly M.R
Citations:
(1865) 35 Beav 204
Jurisdiction:
England and Wales
Cited by:
Not followed – Platts v Trustees Savings Bank Plc CA 13-Feb-1998
A counterclaim for negligent sale was a valid claim allowing potential against repossessing bank but would not make bank’s claim unliquidated. The Judge could properly hold that there was a liquidated and unsecured debt the subject of the statutory . .
Lists of cited by and citing cases may be incomplete.
Insolvency
Updated: 12 April 2022; Ref: scu.184798