A company which was formed for the purpose of purchasing a concession of the fields of guano in a certain island from the grantees, nearly two years after its incorporation brought a claim against the grantees for recision of the contract and repayment of the purchase price on the ground of fraud and misrepresentation. Circumstances in which held that the Company had not established the claim.
The estates of a firm carrying on business both in England and Scotland having been sequestrated in Scotland, an English creditor lodged a claim with the trustee, and at the same time raised proceedings in the Court of Chancery in England against the trustee in the Scotch sequestration and certain other parties to recover payment of the same debt as was the subject of the claim in the Scotch sequestration. The trustee having rejected the claim, the English creditor appealed to the Court of Session, and craved that proceedings should be sisted and a dividend effeiring to the claim should be set aside pending the issue of the Chancery suit.- Held (affirming judgment of Court of Session) that in the circumstances there were no grounds for interfering with the ordinary course of procedure.
Citations:
[1876] UKHL 1, 14 SLR 1
Links:
Statutes:
Bankruptcy (Scotland) Act 1856
Jurisdiction:
Scotland
Contract, Insolvency
Updated: 12 July 2022; Ref: scu.639640