Subject_1 ADJUDICATION and APPRISING. Subject_2 NATURE and EFFECT of this DILIGENCE.
Ranking of the Creditors of the York-Buildings Company
Date: 31 January 1783 Case No. No 24.
The accumulated sum, in an adjudication on English bonds, restricted to the penal sums.
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Among the Creditors of this Company by penal bonds, some, by way of liquidating the damage they sustained, by losing the interest of their money after twenty years had elapsed from the term of payment, obtained decreet in their processes of adjudication, not only for the penal sums, but also for a fourth part more, and claimed to be ranked accordingly.
It appeared, from the opinion of English counsel, that bonds of this sort at no period created a demand for more than the penal sums.
The Lords, therefore, found, “That the adjudications, when led for more than the penal sums in the bonds, were to be restricted to a security for payment of an accumulated sum, not exceeding the penal sums and interest of such accumulated sum, from the date of such adjudication, till paid.”
Lord Reporter, Monboddo.Partibus ut supra.
Fol. Dic. v. 3. p. 12. Fac. Col. No 88. p. 135.
