Scottish Court of Session Decisions

The debts of a company amounted to £242,703, and, on 6th November, 1834, an offer of composition was agreed to, which was payable by two instalments, the first of which, amounting to 10s. per pound, was payable on 1st December. The second instalment of 1s. per pound, was payable in May following. Upon 20th November, the bankrupts and their trustee, at moving the petition for approval of composition and discharge, represented to the Court, that from the magnitude of the estate, it was of great importance to order intimation of the petition on such short notice as would enable its prayer to be granted prior to 1st December, the period when the first instalment was payable; that there was no specific term of intimation fixed by the statute, and that, in fact, there had been the greatest publicity already given to the proceedings; they craved an order for intimation of eight days. The Court ordered such intimation accordingly.