Gray and Another Petitioners [1910] ScotLR 345 (28 February 1910)

Gray and Another Petitioners [1910] ScotLR 345 (28 February 1910)

The Court held that caution must be found by the successor liquidator, regardless of whether the original liquidator was required to do so, and remitted the question of its amount to the Lord Ordinary.

Source-derived case information.

Citation
[1910] ScotLR 345
Parties
Petitioner: Andrew R. Gray; Petitioner: Lewis Bilton; Respondent: Scottish Amicable Heritable Securities Association, Limited (in liquidation); Liquidator: J. Stuart Gowans
Jurisdiction
Scotland
Judgment Date
28 February 1910
Procedural Posture
Petition for Appointment of Liquidator / Post Liquidator Death, Appointment and Security Determination
Outcome
petition refused
Legal Topics
Winding Up, Liquidator Appointment, Security (caution) Requirement
Company Law Winding Up Liquidator Appointment Security (caution) Requirement

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Parties

Andrew R. Gray

Petitioner

Lewis Bilton

Petitioner

Scottish Amicable Heritable Securities Association, Limited (in liquidation)

Respondent

J. Stuart Gowans

Liquidator

Procedural Posture

Petition for Appointment of Liquidator / Post Liquidator Death, Appointment and Security Determination

Legal Issues

  1. 1 Is caution (security) required from a successor liquidator in a voluntary winding-up under court supervision when the original liquidator was not required to find caution?

Ratio Decidendi

The Court held that caution must be found by the successor liquidator, regardless of whether the original liquidator was required to do so, and remitted the question of its amount to the Lord Ordinary.

Court Disposition

petition refused

Orders

  • remit to Lord Ordinary to fix amount of caution