Macpherson v. Boyce

Macpherson v. Boyce

The appeal was dismissed because the court held that it was just and equitable to wind up the old Dominion Trust Co. despite the vesting of assets in a new company, and that the petitioner had standing as a contributory to present the petition under the Companies Act (B.C.).

Source-derived case information.

Citation
(1919) 59 SCR 691
Parties
Appellant: Macpherson; Respondent: Boyce
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
19 May 1919
Procedural Posture
Appeal (company Winding Up) / Supreme Court of Canada Final Decision
Outcome
Appeal dismissed with costs.
Legal Topics
Winding Up, Standing to Petition, Share Transfer and Vesting, Contributory Liability, Just and Equitable Ground
Source Language
english
Commercial Law Corporate Law Insolvency and Winding Up Winding Up Standing to Petition Share Transfer and Vesting Contributory Liability Just and Equitable Ground

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Legal principles 2 Authorities cited 5 Party arguments 2
Sign in to unlock

Parties

Macpherson

Appellant

Boyce

Respondent

Procedural Posture

Appeal (company Winding Up) / Supreme Court of Canada Final Decision

Legal Issues

  1. 1 Whether a shareholder who had not applied to exchange shares had locus to petition for winding-up
  2. 2 Whether an "old" company may be wound up as just and equitable where its assets have been vested in a "new" company by agreement ratified by legislation
  3. 3 Whether a shareholder whose shares were not fully paid and who was placed on the list of contributories can be treated as a contributory for winding-up purposes

Ratio Decidendi

The appeal was dismissed because the court held that it was just and equitable to wind up the old Dominion Trust Co. despite the vesting of assets in a new company, and that the petitioner had standing as a contributory to present the petition under the Companies Act (B.C.).

Court Disposition

Appeal dismissed with costs.

Orders

  • Order for winding-up of the Dominion Trust Co. confirmed
  • Appeal dismissed with costs