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Scottish Court of Session Decisions
You are here: BAILII >> Databases >> Scottish Court of Session Decisions >> City of Glasgow Bank Liquidation - (Wilson's Case) Wilson v. The Liquidators [1878] ScotLR 16_167 (21 December 1878)
URL: http://www.bailii.org/scot/cases/ScotCS/1878/16SLR0167.html
Cite as: [1878] SLR 16_167, [1878] ScotLR 16_167
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SCOTTISH_SLR_Court_of_Session
Page: 167↓
Court of Session Inner House First Division.
v.
Facts:
An action having been brought by a shareholder against the directors of the City of Glasgow Bank subsequently to the commencement of the liquidation proceedings for reduction of a transfer of shares on the ground of fraud, and for damages, the Court, being moved by him to stay proceedings which it was in the power of the liquidators to take upon non-payment of a call made upon the shares, refused the motion, holding (1) that the case of Oakes v. Turquand, July 1867, L.R. (H. of L.) 2 Eng. and Ir. Apps. 325, ruled that the reduction could have no such effect; and (2) that the conclusion for damages could not be pleaded where the interest involved was that of creditors.
Counsel for Petitioner— Rhind. Agent— William Officer, S.S.C.
Counsel for Liquidators— Kinnear— Balfour— Asher— Lorimer. Agents— Davidson & Syme, W.S.