Scottish Court of Session Decisions

The Petitioner was appointed by the Court, on 5th March 1864, official liquidator of the Fraserburgh Arctic Seal and Whale Fishing Company, which company the Court ordered, on 24th February 1864, should be wound up under the Companies Act, 1862. The petitioner having after his appointment investigated into the affairs of the company, found that there was an apparent defficiency of £838, 13s. 3d. He therefore, on 9th June 1865, presented a petition for powers to proceed with the winding up, and inter alia to settle a list of contributories, and to make a call on each of them at the rate of £9 per share. This power having been granted, the petitioner made the call authorised, which has been paid by some of the contributories but not by others, and he now prayed the Court, in terms of section 121 of the Companies Act, to pronounce decree against those who had failed to pay the call, for the sums due by each, with interest, “in the same way and to the same effect as if they had severally consented to registration for execution on a charge for six free days, of illegal obligation to pay such sums and interest, and to grant warrant for extracting the said decree immediately, and to declare that no suspension thereof shall be competent except on caution or consignation, unless with special leave of the Court or the Lord Ordinary.”