Scottish Court of Session Decisions

Subject_1 ADJUDICATION.

York-Buildings Company's Creditors
v.
Billers

1739, Jan. 9.
Case No. No. 21.

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The Lords sustained several reasons of reduction of this odd trust-infeftment, particularly they found a disposition and precept of sasine in general, for all the Company's lands, was no warrant for infefting in any particular lands, and therefore found the infeftment null. 2dly, They also found it reducible, as granted after an act for producing a progress in an adjudication at the pursuer's instance, but not because granted after raising inhibition, because in implement of a prior obligement. 3tio, They found it null, as neither infefting in a particular annuity, nor in the lands for security of a certain sum, but indifinitely for L.100,000 sterling, or so much thereof as had been, or should be subscribed, (and what greatly moved me, though I believe not in the interlocutor) for payment of bonds not payable to particular subscribers, but going from hand to hand, like bank notes. 4to, They adhered to their former interlocutor, finding that the certification did strike against these bonds (of which I greatly doubted.) 5to, They found it void as to the L.27,000 subscribed for the Company. And 6to, As to all bonds due to the stockholders.—N. B. Upon an appeal, the judgment was affirmed upon two or three of these reasons of reduction, I know not which, but as to the others (particularly the 4th) they found it unnecessary to determine, and therefore as to these reversed the interlocutors, without prejudice to any of the points when the same shall become necessary to be determined.—Vide Information for Duke of Norfolk, &c. against York-Buildings Company Annuitants, marked in November 1739, and 14th June 1739.