Liquidator of the Clyde Marine Insurance Co., Ltd Petitioner [1921] ScotLR 324 (05 March 1921)

Liquidator of the Clyde Marine Insurance Co., Ltd Petitioner [1921] ScotLR 324 (05 March 1921)

The Court exercised its nobile officium to appoint the committee of inspection, rectifying the procedural deficiency caused by the creditor's oversight in failing to apply within the statutory period.

Citation
[1921] ScotLR 324
Parties
Petitioner, Liquidator: Eric Portlock; Company in Liquidation: Clyde Marine Insurance Company, Limited; Creditor Appointed to Apply for Committee: Pickford, Watson, & Hampton, Limited; Nominee for Committee of Inspection: Walter F. Wiseman; Nominee for Committee of Inspection: S. A. Tokeley; Nominee for Committee of Inspection: Maurice Diaz
Jurisdiction
Scotland
Judgment Date
05 March 1921
Procedural Posture
Petition in Voluntary Winding Up / Application for Appointment of Committee of Inspection
Outcome
petition granted
Legal Topics
Voluntary Winding Up, Committee of Inspection, Nobile Officium, Companies (consolidation) Act 1908
Company Law Insolvency Voluntary Winding Up Committee of Inspection Nobile Officium Companies (consolidation) Act 1908

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Parties

Eric Portlock

Petitioner, Liquidator

Clyde Marine Insurance Company, Limited

Company in Liquidation

Pickford, Watson, & Hampton, Limited

Creditor Appointed to Apply for Committee

Walter F. Wiseman

Nominee for Committee of Inspection

S. A. Tokeley

Nominee for Committee of Inspection

Maurice Diaz

Nominee for Committee of Inspection

Procedural Posture

Petition in Voluntary Winding Up / Application for Appointment of Committee of Inspection

Legal Issues

  1. 1 Whether the Court can appoint a committee of inspection after statutory period has lapsed due to creditor's oversight
  2. 2 Whether the Court can exercise its nobile officium to rectify procedural deficiency

Ratio Decidendi

The Court exercised its nobile officium to appoint the committee of inspection, rectifying the procedural deficiency caused by the creditor's oversight in failing to apply within the statutory period.

Court Disposition

petition granted

Orders

  • Court dispensed with intimation and service.
  • Walter Frederick Wiseman, Sidney Allison Tokeley, and Maurice Diaz appointed as committee of inspection in voluntary liquidation.