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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Liberty to sell ^^ liberty to offer for sale by public auction without reserve (but sub-
Hliip. joct to the conditions of sale already approved by the judge), at B., the

barque called, &c., which, prior to the suspension of the bank, was
mortgaged by C. to the bank for the purpose of securing, &c. Costs
of applicon to be costs in winding-up. West of England Bank, Fry, J.,
.3th July, 1879. B. 1422.



SALE OF PROPERTY. 203

Upon the applicon of W., of &c., cLartered accountant, tho liqr of Form 281.
the above-named coy, and upon hearing the solor for the applicant 7T , .
and for J. and C, the holders of all tho first mortgage debentures sell news-
issued by the above-named coy (the sd C. being the purchaser of tho P^P^'"*
ppty hnfter referred to) ; and upon reading the order to wind up under
supervision, dated, &c., an afft of the sd "W., and the exhibit "W.l therein
referred to, an afft of X., and an afltt of J., all which aifts were filed
on the 24th of May, 1892, It is ordered that the applicant be at liberty

to sell to the sd C, of &c., for the sum of £ , the copyright of tho

P. W. Newspaper, with the benefit of all advertising contracts subsist-
ing in connection therewith and remaining to be performed on the
28th day of May, 1892, and all such of the drawings, electrotypes,
blocks, and literary matter in the possession of the applicant as have
not already been published in the sd newspaper on the 28th day of
May, 1892, and the furniture now in and upon the premises No. 149,
Strand, where the business of the sd coy is carried on, and the stock
of old numbers of the sd P. W. and coloiu'ed plates now in the posses-
sion of the applicant. Is^ew Pictorial Publishing Co., 1892, N. 0144,
Eeg., 26th May, 1892.



Upon the applicon of the off liqr of the above-named coy, &c., Order Form 282.
that of the ppty of the coy in Nova Scotia the following be sold, with
the approbation of the judge, namely — (1) The, &c. ; (2) The, &c. ; (.3)
and (4). And order that the money to arise by such sale be pd into
the Bank of England to the credit of [the off liqr, to an account to be
entitled "Proceeds of sale of ppty sold in the year 1878"]. Cape
Breton, S^'c. Co., Malins, V.-C, 24th July, 1878. A. 1583.

The Com-t may order a purchaser to pay money due to tlie company into the Payment
Bank of England, or any branch thereof, and such order may be enforced in the i'lto Court,
same manner as if it had directed payment to the liquidator. Sect. 103 of 1862.

But the money should now in ordinary cases be ordered to be paid in to the
credit of the Companies Liquidation Account at the Bank of England. Sect. 1 1 (2)
of 1890 ; and see Ch. XXV.

For order gi\'ing provisional official liquidator liberty to sell, see Briton Medical,
8th June, 1886. A. 848.



Order for sale.



Upon the applicon of B., the off liqr of tho sd coy, by summons. Form 283.
dated the 27th Jan. 1886, and upon hearing the solors for the ai^pli- Liberty to
cant, and upon reading an order dated the 7th Jan. 1886, and an afft sell goodwill
of the applicant, filed the 1st Feb. 1886, It is ordered that the sd B., JJjfi^Js!^ °^
as such off liqr as afsd, be at liberty to sell, with the approbation of the
judge, all the assets, consisting of trade goodwill, patent rights, plant,
fixtures, stock (manufactured or otherwise), materials, implements of
trade, and effects (other than book debts) of the above-named coy now



294 WINDING-UP BY THE COURT. [ChAP. XXIX.

remaining, or wliich on tlie 14th Feb. 188G (the day on which by the
sd order of the 7th Jan. 1886, the period allowed to the sd applicant
for carrying on the sd business will expire) will be remaining in the
hands of the sd applicant as such off liqr, or belonging to the sd coy.
And it is ordered that the money to arise by such sale as afsd be pd
to the credit of [the account of the off liqr of the Hygienic, &c. Coy,
Limtd, at the Bank of England] . And it is ordered that as from the
sd 14th Feb. the sd off liqr be at liberty to close the business of the
sd coy. Hygienic Heating^ ^c. Co., Chitty, J., 30th Jan. 1886.

See previous order in same case giving liberty to carry on the business, Form 254,
Chap. XXVI.



Form 284. Upon the applicon of M. and H., the off liqrs, &c., Order that the
Oeueral ai:)plicants, as such off liqrs, be at liberty to sell by public auction the

liberty to sell, real and personal estate of the coy, comprised in the following par-
ticulars, that is to say — 1. All that, &c. ; 2. All those, &c., &c., free
from the incumbrances of such of the incumbrancers thereon as shall
consent to such sale, and subject to the incumbrances of such of them
as shall not consent. And order that off liqrs be at liberty to sell the
remaining real and personal ppty of coy in England at such time and
upon such terms, and either by public auction or private contract, as
they shall from time to time think expedient. And order that the
money to arise by sale of any of the above-mentd properties be pd into
Bank of England, Manchester branch, to account of [off] liqrs. Costs
of applicon and of all proceedings relating thereto to be costs in liqui-
dation. Beverley Iron and Waggo7i Co., Hall, Y.-C, 9th April, 1879.
A. 705.

The money will, under the present practice, only be ordered to be paid into a
local bank, where the sanction of the Board of Trade to keep such an account has
been previously obtained.



Form 285. Upon the applicon of M., the off liqr of the coy, and upon hearing

Sale of works. ^^® solors for the applicant, and for C. and E., equitable mortgagees,

proceeds to be and upon reading orders dated, &c., and an afft of M., filed, &c.. It is

liquidator and ^^ consent of C. and E., by their solors, ordered that the freehold

paid into land and buildings belonging to the coy, together with the goodwill

of the business of the coy and fixed plant, machinery and other effects

known as, &c., situate at, &c., be sold by public auction, subject to

reserves being fixed by the judge. And it is ordered that the sd M.

Ijo at lihorty to receive the money to arise by the sd sale, and that he

do, witliin fourteen days after the receipt thereof, pay the proceeds into

Court as dirccti'd by tlie schedule hereto. lie Oliver 8f Co., Chitty, J.,

13 Oct. 1886, Lodgment Schedule.



SALE OF PROPERTY.



295



Upon the applicon of the off liqr, Order that the applicant, as such Form 286.
off liqr, be at liberty to sell by auction, or otherwise as he may think Liberty to sell
expedient, the mineral property belonging to the sd coy situate at B., mines and
in the county of C, and also the machinery, plant, implements, mate- ^ ^^^^ '^'
rials and other effects thereon belonging to the said coy. And order
that the money to arise by such sale be pd to the sd applicant and bo
accounted for by him in his account as such off liqr as afsd. Wheal
George Lead Co., Kay, J., 3rd April, 1884. B. 500.



Upon the applicon of T. and C, the [off] liqrs, Order that the ap- Form 287.
plicants be at liberty to offer for sale by public auction, with the Lib^-rty to
approbation of the iudjre, all the interest of the bank in the leasehold f®^^ leasehold

1 11110 "^ auction,

plot of land, with the manufactory, &c., held underlease dated, &c., under power
and which are now vested in the sd bank with power of sale pursuant i" mortgage,
to an indre of mortgage of the 24th Oct. 1876. And order that the
purchase-money to arise by such sale be pd into Ct to the credit of,
&c. And costs of applicon of and incident to this applicon to be costs
in winding-up. West of England Bank, Malins, V.-C, 13th April,
1880. B. 795.



Upon the applicon of the liqrs of the coy, and upon hearing the Form 283.
solors for the applicants and P. and H., mortgagees, upon a portion of Order for sale
the premises hinfter mentd, and upon reading, &c., and the sd P. and "".^*^ consent
H. by their solor consenting to the sale. Order that all land and build- gagees.
ings belonging to the sd coy, and the goodwill of the business of the
coy, together with machinery, stocks, materials, loose tools, and all
pending and future contracts, be sold with the approbation of the
judge, free from the incumbrances of the said P. and H. on the sd
ppty ; and that the money to arise from such sale be pd into Ct to the
credit of, &c., subject to further order; and if such money, or any part
thof , shall arise from real estate sold with the consent of incumbrancers,
the money so arising is to be applied, in the first place, in payment of
what shall appear to be due to such incumbrancers according to their
priorities. Emmerson, Murgatroyd ^ Co., Pearson, J., 7th Dec, 1883.
A. 1815.



Upon the applicon of W. P., of , and upon hearing the solor



for the applicant and for the off liqr, and for Messrs. B. & Co., W., &c., Order to
and upon reading, &c., and the sd W. P. by his solor undertaking out jj mort-

of the proceeds of the sale of the sd • Collieries to pay the sum of gagees,

3,200Z. into the bank of Messrs. P. & Co., in the joint names of the sd
W. F. and Messrs. G. and Sons, to answer any amount which may be



296 WINDING-UP BY THE COURT. [ChAP. XXIX.

found due to the sd Messrs. G. and Sons under eliarges given by the
liqr pursuant to the sd orders in this matter dated 6th and 17th Jan.
1877, let the liqr of the sd coy be at liberty to concur in the sale by

auction of the sd Collieries, as described in the printed particulars,

proposed to be held on 9th Aug. next, and also in case of the collieries
or any of them being sold at such auction in any subsequent sale or sales
by the sd W. F., or as to the L. Colliery by the sd Gr. by private contract
under the powers of the several mortgage securities for the purpose of
transferring to any purchaser or purchasers at any such sale the inte-
rest of the coy in the collieries comprised in the several lots or either
of them, as the case may require ; and that the sd liqr be at liberty to
sell to any purchaser or purchasers at the sd sale or sales all such parts
of the colliery plant, including the live and dead stock, stores, and
materials as are not comprised in the several mortgage securities upon
the terms of the sd coy's plant to be ascertained by valuation in the
usual way, being pd by the respective purchasers on the completion of
the purchase or at such other times as may be agreed on ; and it is
ordered that in case there shall be any dispute as to what plant may
or may not be included in the sd several mortgage securities, such
matter shall be determined after the sale by the judge, and such pay-
ments or allowances shall be made in respect thof as the judge may
direct ; and it is ordered that the mortgagees resply be at liberty to fix
such reserve upon the several lots at the sd sale, and if both lots shall
be offered together, such reserve upon the whole as shall be agreed on
between them and the sd off liqr, or in case of difference be settled by
the judge, and of the costs, charges, and expenses of the sd mort-
gagees and of Messrs. B. and Co. in relation to the sd sale by
auction in case of the 'p'ptj being bought in, including the cost of all
proceedings before the judge in reference to the sale, and all pre-
liminary proceedings in advising on title, or otherwise preparing for
the sale, may be added by the mortgagees to their respective securities ;
and that the off liqr may execute such deeds and other assurances as
ho may be advised or the Court may direct for transferring to the
respective purchasers the interest of the coy resj)ly in the sd collieries
and plant and in all workmen's cottages and other ppty held in con-
nection with same collieries resply, and also in all existing contracts
or other matters connected witli the business of the collieries ; and all
the sd mortgagees may be at liberty to settle the claim to the landlord
for rents and royalties, way-leaves, and other outgoings in respect of
the sd coUiories, and all claims and the wages of workmen employed in
carrying on the sd collieries, and to add the amount to the security,
and that in exorcising the power of sale over the sd collieries the sd
mortgagees resply shall, with the concurrence of the off liqr, be at
liberty to allow such part of the purchase-money as they may resply
think to remain charged on the sd collieries either by way of mort'



SALE OF PROPERTY. 297

gage, del) oat lire, or share capital in providing for the payment of
the mortgage of Messrs. B. and Co. Original Hartlepool Collieries,
27th July, 1877. B. 1522.

Upon the applicon of the off liqr, &c., and upon hearing the solors Form 290.

for the applicant and for and , trustees for the debenture Lj^ertv to

holders, and upon reading, &c., Order that the applicant be at liberty concur in salo

to concur in the sale of the property directed by an order made in the ^gijgpg*^'^^^'^^

action of Vickerman v. The BonviUe Court Coal Co. (1877), V. 39, and

dated 7th Feb. 1878. And order that the ppty of the sd coy other

than the ppty mentd in the sd indenture bo sold at the same time and

place as the ppty directed to be sold by the sd order. And order that

the moneys to arise by such sale be pd into Ct to the credit of the

sd action of . And order that so much of the purchase-money to

be pd into Ct to the credit of the sd action as is attributable to the
ppty sold under this order, and not included in the sd order of the
7th Feb. 1878, be distinguished from the purchase-money arising from
the ppty sold under the sd last-mentd order. BonviUe' s Court Coal, Sfc.
Co., Hall, V.-C, 22nd Feb. 1878; A. 440; Llangannecl Collieries Co.,
M. E., 13th Dec. 1877, B. 2062.

Upon the applicon of the o£E liqr, &c., Order that the following Form 291.
inquiry and accounts be taken and made : — Order for

1. An inquiry whether any and what incumbrances affect the real mquny and

SciIg wliGrc in-
and leasehold estate of the sd coy situate at , and the chattels and cumbrances.

effects of the coy thereon, or any and what parts thof , and the priorities

of such incumbrances.

2. An account of what is due to such incumbrancers as shall consent
to the sale hnftr directed in respect of their incumbrances.

And order that the real and leasehold estate, chattels and effects of
the sd coy, consisting of the Alexandra Palace buildings and grounds,
and their contents, be sold, with the approbation of the judge, free
from the incumbrances (if any) of such of the incumbrancers as shaU
consent to the sale, and subject to the incumbrances of such of them
as shall not consent. And order that the money to arise by such sale
be pd into the Bank of England to the credit of, &c. ; and if any such
money or any part thof shall arise from ppty sold with the consent of the
incumbrancers the same is to be applied in the first place in payment
of what shall appear to be due to such incumbrancers according to
their piiorities ; and any party interested is to be at liberty to a^iply at
Chambers as he may be advised. Alexandra Palace, Malins, V.-C,
15 Dec. 1876.

See sect. 25 of the Conveyancing and Law of Property Act, 1881, as to sales in
actions.



298



WINDING-UP BY THE COURT. [ChAP. XXIX.



Form 292. Upon the applicon of the off liqr of coy, &c., Order that the said off
Z~, ^ T liqr of sd coy he at liberty to sell the ppty of the sd coy situate in the



subject to
special con-
ditions.



Island of Jamaica, and contracted to be purchased from



by the sd



agreement dated, &c., but such sale is to be subject to the conditions
of sale which have been approved by the judge, and are identified by
the signature of the chief clerk of the judge to a memdum in the
margin thereof. Jatnaica Fibre Co., Hall, V.-C, 13th July, 1878.
A. 1459.



Form 293.

Order to carry
into effect
contract for



Upon the applicon of the off liqr of the above-named coy, and upon
hearing the solors for the applicant, and upon reading, &c. It is
ordered that a contract dated, &c., and made between the applicant of
the one part and G. of the other part, being a contract for the sale
to the latter of a freehold house and land situate at, &c., at the price

of /. be carried into effect. And it is ordered that upon payment

of the said sum of /. by the sd Gr. to the Bank, Limtd, the

mortgagees of the sd house and land, the applicant be at liberty to
affix the seal of the sd coy to an assurance of the sd house and land
in accordance with the sd contract. North Londuii Freehold, Sfc, Co.,
Bacon, V.-C, 2nd April, 1886.



Form 294.

Approval of
conditioual
contract for
sale.



Upon the applicon of G., the liqr, &c., Order that the conditional

contract entered into between the sd liqr and B., of , for the sale

of, &c., be carried into effect. And the sd B., declaring himself con-
tent with the title to the premises. Order that the sd B. pay into Ct to
the credit of, &c. the sum of 2,500/., being the purchase-money as
agreed for the coy's rights and interests in the sd mines ; and that
upon such payment being made, the sd B. may be let into immediate
possession of the sd rights and interests. And order that upon such
payment being made the sd liqr do join in and execute a proper assign-
ment under the seal of the sd coy of such rights and interests to the
sd B., his exors or admors, such assignment to be settled by the judge
in case the parties differ about the same. Ramsgill Mining Co., Hall,
Y.-C, 2Gth May, 1877. B. 940.



Form 295. Upon the applicon of , the off liqrs, &c., Order that the sd P.,



as purchaser under the said agreement, do on or before the 10th day
of Dec. 1880, or subsequently within four days after service of this



Order on

pun^hasfT to

pay Im lance to Qj.(jgj, upon him, pay the sum of 550/., being the amount of the
])urchase-money duo from him under the sd order and agreement, in
the manner thereby provided, that is to say, the sum of 400/., part
thuf to the sd F. P. and D. P., and the sum of 150/., the remainder
thof, to tlio said J. TI. W., as off liqr of tlie sd coy. And in default of
the sd P. making such payments, order that the applicants be at



auction.



SALE OF PROPERTY. 299

liberty to make sucli applieon as thoy may be advised -witli reference
to a re-sale of the premises, and payment of any deficiency and costs
by the sd V. Hujham Creek Co., Kay, J., 10th Nov. 1886. A. 1552.



Uj)ou the applieon of the off liqr of Society, and upon hearing Form 296.

the solors for the ai^plicant, and for the persons named in the schedule TT^, T

^ ^ ^ _ Order to pay

of purchasers hereto, such persons, except C. IE. and J. H., being the balances of

persons by the chief clerk's certificate, dated 15th May, 1884, certified P^i^c'iase-
^ '' ... money into

to be the purchasers of the premises comprised in the lots set opposite Court after
their resp names in the sd schedule, and the sd C. H. and J. H., beinj
the purchasers under the contracts, confirmed by the orders dated, &c.,
of the premises comprised in the lots set ojDposite their resp names in
the sd schedule, or such premises being part of the estate sold under
the order dated 27th Feb. 1884, and upon reading the sd order and
certificate and the certificate of fund, and the sd purchasers by their
solors declaring themselves content with the title to the premises com-
prised in the resp lots. Order that the resp purchasers named in the sd
schedule do, on or before 17th July, 1884, pay into Ct the resp sums
mentd in the lodgment schedule hereto, such sums being made up of
the amounts mentd in the sd schedule of purchasers. And it is hby
ordered that upon any of such payments being made the purchaser
making such payment be let into possession of the premises purchased
by him, and receipt of the rents and profits thof from 15th July, 1884,
and that all proper parties do join in and execute a proper conveyance
or assignment of the premises to the sd purchaser or as he shall direct,
such conveyance or assignment to be settled by the judge in case the
parties differ. And order that the funds in Ct and to be lodged be dealt
with as directed by the lodgment schedule hereto, and the sd sums in
the lodgment schedule hereto are not to be pd out except for the pur-
chase of annuities, and such annuities are not to be sold, transferred,
or otherwise dealt with without notice to the persons by whom such
lodgment shall have been made. Mutual Aid, Sfc, Society, Kay, J.,
27th June, 1884. B. 2037. Schedule of Purchasers, containing six
columns, intituled — (1) Names and addresses of purchasers ; (2) No. of
lot ; (3) Purchase-money ; (4) Deposit ; (5) Balance of purchase-
money.

Lodgment and Payment Schedule.



Upon the applieon of "W. and H., the persons by the chief clerk's Form 297,
certificate, dated 25th April, certified to be the purchasers, &c.. Order ^r~

X ' ' OrciGr to r)3.v

that the applicants be at liberty, out of the sum of 90^., the balance of balance of
the purchase- money of the sd premises and goodwill, as certified by the purchase-
sd chief clerk's certificate, and 90U. 14s. 10c?., the ascertained amount



300



WINDING-UP BY THE COURT. [ChAP. XXIX.



Court, and for of the valuation of the plant, machinery, and other effects, as provided
^Q^ ' by the 10th condition of sale, making together 991/. 14s. lOd., to pay

F., the lessor of the premises sold, 410/. 65. 4d. for arrears of rent up
to 29th Ajiril, 1884, the [off] liqr having no funds to pay the same.
And the applicants bj^ their solors declaring themselves content with
the title to the premises, Order that the applicants do, on or before
31st May, 1884, pay into Ct, as in the schedule mentd, the sum of
581/. 8s. 6c?., being the residue of the 991/. 14s. lOd. And order that
upon such payment being made the applicants be let into possession
of the premises and receipt of the rents and profits thof , as from the
29th April, 1884, and that all proper parties do join in and execute a
proper conveyance of the j)remises to the applicants or as they shall
direct, to be settled by the judge in case the parties differ. And order
that G., the auctioneer, be at liberty to pay into Ct, as in the schedule
mentd, the sum of 10/. received by him by way of deposit. And at the
requestof the sd [off] liqr by his solors. Order that the funds in Ct be
dealt with as directed in the schedtde hereto, and the sd sums are not
to be pd out except for the piu-chase of annuities ; and such annuities
are not to be sold, transferred, or otherwise disposed of, without notice
to the applicants, W. and H. Piire Water Bevei'age Co., Pearson, J.,
12th May, 1884. B. 1539. [Schedule as below.]

Lodgment Schedule.

In the High Court, &c. 12th May, 1884.

In the matter. Sec.
Ledger Credit. The said matter, "Proceeds of Sale."
[TAe rest of the schedule is like that used in an ordinary sale by the
High Cotirt.']



Form 298.

Paymaster-
pen eral's
certificate.



It is hby certified that the funds specified hereunder were lodged or
transferred to the account of the paymaster-general, for and on behalf

of the Supreme Ct of Judicature, by on the 1884, under an

order dated , and that pursuant thereto the sd funds have been

placed in the book of this office to the ledger credit of "In the matter,"
&c., money two hundred pounds.



Form 299.

Liberty to

execute

assignment.



Upon the applicon of the off liqr, Order that the sd off liqr be at
liberty to execute an assignment under the seal of the coy of the

premises 227, Street, in the county of , to N. for all the

residue of the term subsisting therein and in consideration of /.,

fiuc'li assignment to be settled by the judge in case the parties differ;
and upon such payment of the sd suui of 35/. the sd N. is to be let into
immediate possession of the sd premises ; and costs of off liqr of and
incident to the applicon to be costs in the winding-up. Devon and
Cornwall Co., Pearson, J., 12th April, 1883. A. 1883.



SALE OF PROPERTY. 301

Upon the applicon of the off liqr, &c., and the judge being of Form 300,

oninion that the four several indentures hnftr mentd are fit and "T , .

T 1 • • o 1 Approval ot

proper deeds to be executed by the applicant, and that it is fit and conveyances.

proper that the seal of the coy should be affixed thereto, Order that the

applicant be at liberty to execute such indentures accordingly, and

also to affix the seal of the sd coy to the same several four indentures

being made between the several persons as parties thereto hinftr



Online LibraryFrancis Beaufort PalmerCompany precedents for use in relation to companies subject to the Companies acts, 1862 to 1890 ... (Volume 2) → online text (page 42 of 134)