Boyd (Liquidator of Weir & Wilson, Ltd) v. Turnbull and Findlay [1911] ScotLR 818 (13 June 1911)

Boyd (Liquidator of Weir & Wilson, Ltd) v. Turnbull and Findlay [1911] ScotLR 818 (13 June 1911)

Law agents of a bondholder cannot assert a general lien over company title-deeds against the liquidator in a winding-up, as the titles were delivered for the limited purpose of making good the security, and the agent's right of retention does not extend beyond their client or the limited purpose for which the documents were delivered.

Citation
[1911] ScotLR 818
Parties
Petitioner: Boyd (Liquidator of Weir & Wilson, Limited); Respondents: Turnbull and Findlay
Jurisdiction
Scotland
Judgment Date
13 June 1911
Procedural Posture
Petition Under Companies Consolidation Act 1908 / Judgment After Hearing on Entitlement to Lien and Delivery of Title Deeds
Outcome
Petition granted; respondents found to have no lien over the titles; answers repelled; decerned.
Legal Topics
Law Agents' Lien, Retention of Title Deeds, Winding Up of Companies, Delivery of Company Property, Security Over Heritable Property
Company Law Property Law Insolvency Law Law Agents' Lien Retention of Title Deeds Winding Up of Companies Delivery of Company Property Security Over Heritable Property

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 14 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Boyd (Liquidator of Weir & Wilson, Limited)

Petitioner

Turnbull and Findlay

Respondents

Procedural Posture

Petition Under Companies Consolidation Act 1908 / Judgment After Hearing on Entitlement to Lien and Delivery of Title Deeds

Legal Issues

  1. 1 Whether law agents of a bondholder have a lien over company title-deeds against the liquidator in a winding-up
  2. 2 Whether delivery of title-deeds to the liquidator prejudices any lien claimed by the agents

Ratio Decidendi

Law agents of a bondholder cannot assert a general lien over company title-deeds against the liquidator in a winding-up, as the titles were delivered for the limited purpose of making good the security, and the agent's right of retention does not extend beyond their client or the limited purpose for which the documents were delivered.

Court Disposition

Petition granted; respondents found to have no lien over the titles; answers repelled; decerned.

Orders

  • Respondents to deliver the titles to the petitioner.
  • Any lien claimed by respondents over the titles or sale price reserved for later determination, but ultimately found not competent.