Graham (Liquidator Of James v. Donaldson & Co., Ltd) [1907] ScotLR 739 (11 June 1907)
Court authorised acceptance of bond of caution by approved guarantee company, allowed premium to be charged against liquidation, but required consideration of such charge in fixing liquidator's remuneration; fixed caution at £6000.
- Citation
- [1907] ScotLR 739
- Parties
- Liquidator: James Maxtone Graham; Company in Liquidation: James Donaldson & Company, Limited
- Jurisdiction
- Scotland
- Judgment Date
- 11 June 1907
- Procedural Posture
- Liquidation Under Supervision / Application for Fixing Caution and Authorisation of Bond
- Outcome
- application granted
- Legal Topics
- Liquidator's Caution, Approved Guarantee Company, Remuneration, Act of Sederunt 15th July 1904
Case Brief
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Parties
James Maxtone Graham
Liquidator
James Donaldson & Company, Limited
Company in Liquidation
Procedural Posture
Liquidation Under Supervision / Application for Fixing Caution and Authorisation of Bond
Legal Issues
- 1 Whether a bond of caution by an approved guarantee company may be accepted in liquidation
- 2 Whether the premium on such bond can be charged against the liquidation
- 3 How the premium affects the liquidator's remuneration
Ratio Decidendi
Court authorised acceptance of bond of caution by approved guarantee company, allowed premium to be charged against liquidation, but required consideration of such charge in fixing liquidator's remuneration; fixed caution at £6000.
Court Disposition
application granted
Orders
- Fix £6000 as caution to be found by liquidator
- Authorise Clerk to accept bond by Law Guarantee and Trust Society, Limited
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