In an action under section 15 against a company for permitting the transfer of shares after notice of a charging order nisi, and before the making of it absolute, it is a good answer to show that the judgment debtor in whose name the shares stood had no beneficial interest in them.’
Bramwell B said: ‘The only stock that is to be charged is stock standing in the name of the judgement debtor in his own right, and if an order is made otherwise it is not within the competence of the judge to make it.’
Judges:
Baron Bramwell
Citations:
[1872] LR 7 Exch 332
Statutes:
Jurisdiction:
England and Wales
Cited by:
Applied – Hawks v McArthur 1951
A transfer of the equitable interest in shares in breach of article 8(B) would nonetheless be effective.
Vaisey J said: There is, undoubtedly, a basic principle that a charging order only operates to charge the beneficial interest of the person . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 27 November 2022; Ref: scu.651080
