Francis Beaufort Palmer.

Company precedents for use in relation to companies subject to the Companies acts, 1862 to 1890 ... (Volume 2) online

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/I • Tir^ff.



COMPANY PRECEDENTS



SEVENTH EDITION.



Part II.

WINDING-UP FORMS AND PRACTICE.



Sixih Edition. Roy. 8vo. 1895. Price 36s. cloth {net for cash 29s.) .

PALMER'S COMPANY PRECEDENTS

For use in relation to Companies subject to the Companies Acts, 1862 to 1890.

Part I.

aebaxged as follows;
Peosiotees. — Peospectuses. — Undeeweiting. — Aqeeements. — Memoeanda and
Aeticles op Association.— Peivate Companies.— Employes' Benefits.— Resolutions.
— Notices. — Ceetificates. — Powees of Attoenet. — Debentttees and Debentuee
Stock. — Backing and Advance Sectjeities. — Petitions. — Weits. — Pleadings. —
Judgments and Oedees. — Reconsteuction. — Amalgamation. — Special Acts.
Witli Copious Notes and an Appendix containing Acts and Eules.

By FEANCIS BEAUFOET PALMEE,

O/the Liner Temple, Esq., Barrister-at-Laiv.

Assisted by CHAELES MACNAGHTEN, and
AETHUE JOHN CHITTY,

Both of Lincoln's Inn, Esqrs., Barristers-at-Law.

Opinions of the Peess.

" These two volumes •wiU form the standard authority on the particular aspect of Company Law

with which they deal It is not often that the diaftsman finds that Palmer's Forms do not

contain what he requires, whilst the Notes are admitted on aU hands to contain a mine of information
on the details of Company Law." — Laiv Journal.

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unrivalled productions, and we can confidently recommend it to the Profession and to aU others
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upon it both in the way of re-an-angement of the introduction of New Forms and other fresh matter.
Company drafting- is the last development of Conveyancing, and Mr. Palmer, who has had so large a
share in its development, spares no pains to make the results suggested by recent experience accessible

to the Profession Mr. Palmer's work is of the highest utUity as a book of Precedents, and it

is interesting also by reason of his discussion of important questions in Company Law." — Solicitors'
Journal.

" The sixth edition of tliis work is one more evidence of the high appreciation in which this classic
of the Companies Acts is held." — Financial Xeics.

"This invaluable work." — Financial Times.

" To estimate the value of Mr. Palmer's book, we have only to picture to ourselves what would be
the condition of Company promoters, directors, vendors, syndicates and other such persons without it.
.... The value of the book is too well recognized both in the Profession and out of it to need any

recommendation It would be difficult to name any law book which lias been more successful —

and deservedly successful — than these Company Precedents of Mi\ Palmer. The flowing tide of
company enterprise floated him into popularity, and Mr. Palmer knew how to take advantage of it.
It is by the care which he has bestowed upon every edition, and by his ready adaptation of his forms
to the growing wants of the commercial world — not by any mere good luck — that he has maintained
and maintains his prestige as a company lawyer."— IVie Lmv Quarterly.

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volume varied precedents and fonns which cannot fail to be of the greatest service to them." — Law
Marjazine,

Opinions of the Peess on Paet II.

" It is quite a pleasure to pass from the conglomeration of cases, so often loosely strung together
and called a book on a legal topic, to such a work as this .... Mr. Palmer reads his authorities, thinks

them over, brings a ripe experience to bear upon his work, and masters his subject The result

is u book of sterling worth Mr. Palmer's 'Company Precedents ' is the book par excellence for

practitioners. It is certain to be used alike by the Company draughtsmen, and by the Jiabitue of the

Oiurt wliere Mr. Justice Williams presides There is nothing we can think of which should be

within the covers wliidi wc' do not find. It is needless to recommend Mr. Palmer's book to the pro-
fi .,sii,ii, ftjr it is iilrtady known and appreciated. We advise those who have any doubts to consult it,
and lli'-y will be in agreement with us." — Law Journal.

" We Jiad occasion recently, on the publication of the first volume of this edition, to state our
oi)inion of the Men-iccH wliich Mr. I'almer liad rendered to the profession by the careful and thorough
iniinn<r in whicli lie Jiad undfitukcn the task of revision. The present volume calls for similar
iickiiowhdgiiniit. . . . The book will continue to be a safe and necessaiy guide in winding-up

pnutill-."— Snlicitum' JliUTIinl .

"'nie bu.tincHH of winding-up companies has increased so rapidly, that the author is obliged to
devote to it a m'lrirale volume of about «00 pages, and containing 811 forms. Not that the work is a
mere collection of forrriH. It contains also viilunble notes and observations, so that the practitioner
(fctnlH.th tlip fomiM and the iiractiec togetlicr. . . . Mr. I'lilmor's now volume is one of which every
one fonM-nied in tlie windirig-uj) rif companies muHt have." — Lam Times,

"Not the leiiB', (if Mr. J'lilmer'H miiiiy merits is, that he is eminently practical and to the point.
In hilt •Coiiipiiny l'rece<lrnt<i,' Pari, T., liis aim is to see liow what the coniincrcial world wants can be
done, to put if into h-Kiil Mhiijie, and render it impregiuible against the insidious attacks of the Court.
.... Thin excellent (;harneteri«tic of pracliciilKy is much in evidence in the jui'sent edition of

WindinK-uji Vnnnn It im a Htrikiiig t^i'slimouy to the value as well as the variety of the form«,

thiit whi-n the (Imt •■dition inii.eared, ahout twenty years ago, it contained about fifty forms only;
t/.-diiy it, eontjiins eonHidiTahly over WXi. The sapling has grown into a vigorous trea."— Law
iJunrUrLf liffirw.

**Tt i« mmpljr invaluable not only to company lawyers, but to cvei-j-one connected with companies."
Financial AVi/'».



STEVENS AND SONS, Limited, 119 & 120, Chancery Lane, London, W.C.



COMPANY PEECEDENTS



FOR USE IN RELATION TO



COMPANIES

SUBJECT TO THE COMPANIES ACTS, 1803 TO 1800.

Part II.

Winding-up Forms and Practice,

AERANGED AS FOLLOWS :

COMPULSORY WINDING-UP. WINDING-UP UNDER SUPERVISION.
VOLUNTARY WINDING-UP. ARRANGEMENTS AND COMPROMISES.

WITH A CHAPTER OX DEBENTURES,

AN'D AN

APPENDIX CONTAINING ACTS AND RULES.
SEVENTH EDITION

BY

FRANCIS BEAUFORT PALMER,

Of the Inner Temple, Eaq., Barrister-at-Law,



ASSISTED BY



FRANK EVANS,

Of Lincoln's Inn, Esqntre, Ban-ister-at-Lnn



LONDON:

STEVENS AND SONS, LIMITED,
119 & 120, CHANCERY LANE,

1897



BY THE SAME AUTHOR.



Seventeenth Edition. 12mo. 1897. Cloth. Price net, 2s. 6d.

THE

SHAEEHOLDEES, DIEECTOES, AM YOLUNTAEY

LIQUIDATORS LEGAL COMPANION.

A Manual of Every-day Law and Practice for Promoters, Shareholders,

Directors, Secretaries, Creditors, Solicitors, and Voluntary Liquidators of

Companies under the Companies Acts, with Appendix of useful Forms.



Thirteenth Edition. 12mo. 1897. Sewed. Price net, Is.

PEIYATE COMPANIES AND SYNDICATES:

THEIR FORMATION AND ADVANTAGES.

Being a Concise Popular Statement of the Mode of Converting a Business

into a Private Company, and of establisliing and working Private Companies

and Syndicates.



STEVENS AND SONS, LIMITED, 119 & 120, CHANCERY LANE, LONDON, W.C.



T



PREFACE TO THE SEVENTH EDITION.



In the First Editiou of this Work (published in 1877) the Author
was only able to find room for about 50 Forms in relation to
Winding-up. In the Second Edition the number was increased
to 350, with extensive Notes on the Law and Practice ; and in each
succeeding Edition, including the Fifth, it was a struggle to retain
the Winding-up Section within the one volume, which the Gleneral
Forms threatened to monopolize. Accordingly, in the Sixth Edition,
the work was divided into two Parts, namely. Part I. dealing with
the Greneral Forms, and Part IT. dealing with Winding-up.

Part II., published early in 1896, was out of print before the
close of the same year, a significant and gratifying testimony of
appreciation.

A New Edition of the same Part is now submitted for the kindly
consideration of those who are concerned with Winding-up Business.

Every effort has been made to render the volume practically
useful, and to guide the practitioner amidst the perplexities of the
New Practice.

The additional matter amounts to upwards of 150 pages, but the
work ha\dng been printed on specially-prepared paper its bulk has
been somewhat reduced.

Among the improvements which have been made are the follow-
ing : — Each left-hand page shows, at the top, for facilitating reference,
the Chapter to which it belongs ; the Alphabetical Table of Chapters
(facing page 1) has, for the like purpose, been printed on coloured
paper ; the Notes have been considerably extended, and in some cases
rewritten ; many new Forms have been introduced ; Marginal Notes
have been added throughout ; and the Acts and Pules have been set
out in crfrnfio in the Appendix. This last-mentioned feature is
adopted in order to meet a want that has been felt ; for, although
the relevant Sections and liules are set out at the commencement of



74 95 S 4



VI PEEFACE TO THE SEVENTH EDITION.

each Chapter, it is sometimes desirable to be able to turn to the Acts
and Eules as a whole.

The collection of Forms includes copies of, or extracts from,
hundreds of judgments and orders made by the High Court in
Court or Chambers. Such Forms throw a flood of light on the
Practice, and experience has demonstrated their great utility, inas-
much as they furnish the practitioner not only with the means of
framing his application in appropriate terms, but with an authority
which may enable him to obtain the desired order.

The work also includes a large number of Official Forms sanc-
tioned by the Board of Trade, and in frequent use, but not published,
and much information obtained from official sources.

The Author acknowledges with pleasure the valuable assistance
in the preparation of this volume which he has received from his
friend Mr. Frank Evans, of the Chancery Bar, whose keen attention
to the developments of the New Practice, and ungrudging industry,
have much lightened the Author's labours, and have largely con-
tributed to the result.

The Author has also to thank many members of both branches
of the Profession for the loan of papers and cojiies of Orders and
Forms of great interest, and for valuable suggestions.

The thanks of the Author are also due to Mr. Eegistrar Hood
and his staff, especially to Mr. T. Barnes, and Mr. Nichols, to
Mr. John Smith, C.B., Inspector-Greneral in Companies Liquidation,
and to Mr. T. Giruwood Macfie and other officers of the Board of
Trade, and to the Official Receivers attached to the High Court, and
many gentlemen in their offices, especially Mr. Couzens, for valuable
suggestions, and much information of great practical value.

The proof sheets of this Edition have been submitted to expe-
rienced officials of tlio High Court and Board of Trade, whose notes
thereon have been utilized, and tlie Work has been brought up to
date.

F. B. P.



TABLE OF FOEMS.



INTEODUCTORY CHAPTER (pp. 1—9) Icontains no Forms\



Section I.— WINDING-UP BY THE COURT.



Chap. I.— JURISDICTION (pp. 10—18) [_contains no Forms].



Chap. II.— COMMON FORMS AND GENERAL PROCEDURE
(pp. 19—33).

General title (High Court, Vauglian "WilHartis, J.)
General title (Lancaster Palatine Coiu't)
General title (Durham Palatine Court)
General title (County Court) ....

General title (Building and Industrial Societies)
Application for inspection of file (High Court)
Register of petitions to be kept in the Courts



Form

1.

2.

3.

4.

5.

6.

7.

8.

9.
10.
11.
12.
13.
14.
15.
16.



Register of winding-up orders to be kept in the
Notice of motion (Vaughan WiUiams, J.) .
Summons, general (Vaughan Williams, J.) .
Formal parts of affidavit by one person
Formal parts of affidavit by several persons .
Order in Chambers .....
Application for office copy ....
Notices for London Gazette
Memorandum of advertisement or gazetting .



Coxu'ts



PAGE

20
20
21
21
21
23
23
23
24
26
29
29
30
31
31
32



17.
18.
19.
20.



Chap, in.— WINDING-UP PETITIONS (pp. 34—60).
Memorandum to be obtained on presenting petition .



Petition (general form) .....
Petition by unpaid creditor on simple contract
Petition of judgment creditor



45
46
47
47



VUl



TABLE OF FORMS.



Form

21. Petition by assignee of judgment creditor .

22. Petition of policy holder in life assurance company

23. Petition by debenture bolder ....



24.
25.
26.

27.
28.
29.

SO. Petition to wind up unregistered company

31. Creditor's j)etition for supervision order

32. Petition to Lancaster Palatine Court .

33. Petition to Dui'bam Palatine Court .

34. Petition to County Coiu't (Stannaries case)

35. Petition to County Coui-t (other cases)



Petition wbere prior petitioner settled .
Petition by company unable to pay its debts
Statement of service of statutory demand
Statutory demand for payment of debt
Petition by fully paid-up shareholder .
Petition where substratum gone



PAQB
49

49
50
52
52
53
53
53
54
55
56
58
59
59
59



Chap. IV. -ADYERTISEMENT AND SEEVICE OF PETITION
(pp. 61—68).

36. Advertisement of petition (for compulsory or supervision order) 61

37. Second advertisement (where supervision order requested) . 63

38. Affidavit of service of petition on members, &c 64

39. Ditto on liquidator (supervision) ...... 65

40. Ex parte summons for special order for service . . . . 65

41. i\iB.davit on summons for substituted service .... 65

42. Order for service (office closed) 66

43. Special order (office closed, &c.) 66

44—47. Other special orders 67

48. Affidavit of service pursuant to si)ecial order .... 68



Chap. V.-EVIDENCE ON PETITION (pp. 69-72).

49. Affidavit verifying petition (ordinary)

49a & 49u. Other affidavits verifying

50. Order extending time to file affidavit

51. Order for cross-examination

62. Order for witnesses to attend in Court



69
70
71
71
72



Chap. VI.— AMENDMENT ; SECUEITY FOE COSTS (pp. 73—75).

63 & 64. Liberty to anvnd 73

65. SutnmouH fur security for costs . . . . . . . 74

66. Order for Hocurity ......... 74

56a & 56li. Otli<r Huch orders 75

66c. Order for further security (company) 76



TABLE OF FORMS.



IX



Chap. VII.— COMPLIANCE ATTENDANCE, AND NOTICES AND
LIST OF APPEARANCES (pp. 76, 77).



Form



57. Notice of intention to appear on petition

58. List of parties attending hearing



PAGE

7G



Chap. VIII. — HEARING OF PETITION, CALLING MEETINGS,

STANDING OVER, WITHDRAWAL, DISMISSAL, REVIVOR

(pp. 78—86).

59. Standing over pending cross-examination 80

60. Order to stand over (St. Thomas' Dock Order) . . . . 80

61. Order staying petition pending action ..... 81

62. Order dismissing when debt disputed 81

63. Order dismissing with costs 82

63a. Order dismissing petition of secui-ed creditor . . . . 83

64. Liberty to withdraw 84

65 & 65a. Orders by consent dismissing . . . . . . 84

66. Order for costs, debt paid before hearing ..... 84

67. Another where creditors oppose . . . . . . . 85

68. Revivor on application of petitioner's executors ... 85

69. Ditto of petitioner's administrator . . . . . . 86

70. Order striking out petitioner's name . . ... 86



Chap. IX.— WINDING-UP ORDERS AND NOTICES, SERVICE
AND ADVERTISEMENT THEREOF (pp. 87—95).

71. Notification to official receiver of order pronounced . . .87
71a. Ditto to central office 88

72. Order for winding-up by the Coui't (rule form) ... 88

72a. Usual winding-up order 89

72b. Restriction in case of foreign company ..... 90

72c. Another 91

73 & 74, Clauses as to outside i)ro visional liquidator . . .91

75. Order on two petitions ......... 91

76. Order allowing costs of second petition ..... 92

76a. Return to Board of Trade 93

76b. Order appointing official receiver 93

77. Gazette notice of winding-up order 94

78. Notice for local paper 94

79. Notice by official receiver of winding-up order . . . . 94
79a. Order discharging winding-up order 95



TABLE OF FORMS.



Chap. X.— PROVISIONAL LIQUIDATOE (pp. 96—106).

Form PAQB

80. Summons or notice of motion for provisional liquidator . . 99
81 — 83. Orders appointing official receiver interim provisional

liquidator ........... 99

83a. Another 100



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