The Norwich Yarn Company, and The Joint Stock Companies Winding-up Acts, 1848 and 1849. East of England Banking Company's Case
| Jurisdiction | England & Wales |
| Court | High Court of Chancery |
| Judgment Date | 11 December 1851 |
| Date | 11 December 1851 |
English Reports Citation: 43 E.R. 966
BEFORE THE LORDS JUSTICES LORD JUSTICE KNIGHT BRUCE AND LORD JUSTICE LORD CRANWORTH.
[505] In the Matter of the norwich yarn company', and In the Matter of the joint stock companies winding-up acts, 1848 and 1849. east of england' banking company's case (5 De fi. M. & G. 499, note). Before the Lord* Justices Lord Justice Knight Bruce and Lord Justice Lord Cranworth. Dec. ?? 9, 11, 1851. Where a claim was made to prove a demand as a debt under the Winding-up Act* against a company which was not authorized to be sued by any public officer, and the materials before the Court were not such as to enable it to decide upon the demand : Held, that it was competent to the Court under the Winding-up Acts to direct a claim merely to be admitted until the claimants established their demand at law; but that for that purpose the claimants ought to have liberty to take such proceedings at law as they might be advised, and ought not to be directed to bring an action against the official manager. This was the appeal of the East of England Banking Company against a decision of Lord Langdale, Master of the Rolls, reported in the 13th Volume of Mr. Beavan't* Reports (page 426). The Appellants, the East of England Banking Company, claimed to be creditors of the Norwich Yarn Company (which had been ordered to be wound up under the Winding-up Acts) for 35,755. The Master of the Rolls ordered the demand to stand as a claim, and directed the Appellants to bring an action against the official manager of the company, and that the motion should stand over in the meantime. Mr. Bethell, Mr. R. Palmer, Mr. Cole and Mr. Willes, in support of the appeal. This is not a case which can be decided by the result of an action. In the first place, the particular action directed to be brought will be wholly ineffectual. For [506] the company directed to be wound up is not one which is authorized to be sued by any officer, and therefore cannot be sued under the Winding-up Acts by the official manager, the 50th section of the Wincling-up Act not applying to such a case : Beanlshaw v. Lord Londesborough (11 C. B. 498. See also Official Manager of Grand Trunk Company v. Brodie, 3 I)e G. Mac. & Gor. 146). [THE lord justice lokd cranworth. Is not this demand, if sustainable at all, one on which all the...
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