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These cases are from the lawindexpro database. They are now being transferred to the swarb.co.uk website in a better form. As a case is published there, an entry here will link to it. The swarb.co.uk site includes many later cases.  















Insolvency - From: 1960 To: 1969

This page lists 11 cases, and was prepared on 08 August 2015.

 
Cotterill -v- Price [1960] 1 WLR 1907
1960


Insolvency, Limitation
A statute-barred debt cannot be proved in bankruptcy.
1 Citers


 
Cottrell -v- Price [1960] 1 WLR 1097
1960

Buckley J
Insolvency, Limitation
The rights of a secured creditor against his security were held to be rights "outside the bankruptcy". As to the case of Benzon: "The importance of that case and of the way in which the doctrine is stated in the judgment of the Court is that it makes it clear that it is only "in the bankruptcy" that the statute ceases to operate. It does not have any effect on the operation of the statute on any rights or remedies which are unaffected by the bankruptcy."
1 Cites

1 Citers


 
In re United Railways of the Havana -v- Regla Warehouses Ltd [1960] Ch 52
1960
CA
Jenkins LJ
Contract, Banking, Insolvency
There had been a financing transaction by way of a lease by a Pennsylvania corporation, as trustee for foreign bondholders, to an English company carrying on business in Cuba, of assets in Cuba. By a Cuban decree the assets were transferred to the Cuban government and the company was put into liquidation in England. The liquidators rejected a proof by the trustees for the payments due under the lease on the ground that the Cuban decree had transferred liability to the Cuban government. The court did not accept that the decree had this effect, but, for argument considered whether it would have been effective to discharge the company's liability. This depended on whether one applied the lex situs of the debt (Cuba) or the proper law of the lease (Pennsylvania). Held: The transaction was a statutory novation; the extinction of the liability of one debtor and its replacement by the liability of another. These two aspects of the transaction were not necessarily governed by the same law and that the question of whether the one debtor was discharged was governed by the proper law of the debt. The court rejected an analogy with the question of whether the benefit of a debt had been transferred to another person. "The contractual right to receive payment of a debt is an item of property, that is to say, a chose in action. It can be transferred by the creditor to a third party, but the validity of the transfer necessarily depends upon the lex situs, because the courts of the country where the debt is have jurisdiction over the title to it. Novation, on the other hand, does not involve the transfer of any property at all, for, as we have already pointed out, it comprises the annulment of one debt and the creation of another. Moreover, in novation a creditor may be vitally prejudiced, whereas it is immaterial to a debtor to whom he pays his debt provided that he gets a good discharge for it."
1 Cites

1 Citers


 
in Re William Hockley Ltd [1962] 1 WLR 555
1962
ChD
Pennycuick J
Insolvency, Company
Pennycuick J said: "The expression ‘contingent creditor’ is not defined in the Companies Act 1948, but it must, I think, denote a person towards whom under an existing obligation, the company may or will become subject to a present liability upon the happening of a future event or at some future date . ."
Companies Act 1948 224(1)

 
Independent Automatic Sales Ltd -v- Knowles and Foster [1962] 1 WLR 974; [1962] 3 All ER 27
1962
ChD
Buckley J
Company, Insolvency
The company in liquidation had sold machines on hire-purchase. It sued the finance company to recover hire-purchase agreements and other securities which it had charged to secure the repayment of advances. When the finance company relied upon the charge, the plaintiff replied that it was void because it should have been registered as a charge over book debts. Held: If the property subject to a charge is not registered and the property remains after all the costs of the winding up and debts payable in the liquidation have been paid the property will continue to be encumbered even though the charge was not registered at Companies House. A book debt is one which could be properly entered in the books of the company whether in fact entered or not.
1 Citers


 
Re a Debtor; ex parte Berkshire Finance Co Ltd (1962) 106 Sol Jo 469
2 Jan 1962
QBD
Cross J
Insolvency
The court was asked to consider whether a judgment debt in respect of sums due under a hire-purchase agreement was a good petitioning creditor's debt. The judgment sum included the balance of all the remaining hire charges which became payable on the premature determination of the agreement. After the judgment the Campbell Discount case had invalidated the clause as a penalty. Held: Cross J exercised his power to go behind the judgment to hold that the creditor had, on a proper application of the law, no more than a cause of action against the debtor for unliquidated damages.
1 Cites

1 Citers


 
Fisher -v- CHT Ltd (No 2) [1966] 2 QB 475
1966

Lord Denning MR
Damages, Insolvency
Where more than one defendant is liable in damages, the court will make allowance for the insolvency of one when ordering a contribution from the others.
1 Citers



 
 In re SBA Properties Ltd; ChD 1967 - [1967] 1 WLR 799; [1967] 2 All ER 615

 
 in Re Resinoid and Mica Products Ltd; CA 1967 - [1982] 3 All ER 677

 
 Post Office -v- Norwich Union Fire Insurance Society Ltd; CA 1967 - [1967] 2 QB 363; [1967] 1 Lloyds Rep 216

 
 Mann -v- Goldstein; ChD 1968 - [1968] 1 WLR 1091; [1968] 2 All ER 769
 
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