The Oriental Banking Company v Coleman
| Jurisdiction | England & Wales |
| Judgment Date | 05 March 1861 |
| Date | 05 March 1861 |
| Court | High Court of Chancery |
English Reports Citation: 66 E.R. 302
HIGH COURT OF CHANCERY
S. C. 30 L. J. Ch. 635; 4 L. T. 9; 9 W. R. 432.
302 THE ORIENTAL BANKING COMPANY V. COLEMAN 3 GIFF. II. [11] the oriental banking company v. coleman. March 4, 5, 1861. . - [S. C. 30 L. J. Ch. 635; 4 L. T. 9 ; 9 W. E. 432.] Where a trader in insolvent circumstances by a bill of sale assigned to one creditor all his household furniture and effects, and the goods and chattels in and upon his place of business, and was afterwards adjudged bankrupt: Held, that the assignment was an act of bankruptcy, and fraudulent and void against the assignees. Previously to the 14th of March 1857 Colonel W. it Waugh, being indebted to the London and Eastern [12] Banking Company in the sum of £224,000, by an indenture, in the nature of a bill of sale, between himself of the one part, and the bank of the other part, after reciting the debt, it was witnessed that, in consideration of £80,000, part of the said sum of £244,000 then due and owing by the said W. P. Waugh to the said bank, he, the said W. P. Waugh, did grant and assign to the said corporation "all and singular the household furniture and effects, plate, pictures, prints, utensils, goods, chattels, and all other things whatsoever in or about Branksea Castle aforesaid, or in or about any place or places ia the island of Branksea, belonging to the said W. P. Waugh," &c., to hold the same, with their appurtenances, unto the said corporation, for their own proper use and benefit; upon trust, nevertheless, and with full power and authority for the said corporation to enter into the said castle and island, &c., and take possession of the said furniture and effects, &c., and to make, sell and absolutely dispose of the same, &c.; and, upon receipt of the purchase-monies, to retain and pay the said sum of £80,000 and interest at 5 per cent. On the 26th of March 1857 the indenture was registered as a bill of sale. On the 9th of April it was assigned by the London and Eastern Banking Company to the Oriental Banking Company, as a security. On the 14th of April 1857 Col. Waugh was adjudged a bankrupt; William Bell was appointed an official assignee; and W. S. P. Hughes, W. C. Jay and W. Pearce were appointed creditors' assignees. Shortly after the bankruptcy the mortgagee of the real property, for the sum of £3500, took possession of Branksea Castle, and the chattels thereon, and allowed Col. Waugh to remain there as...
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Gass, A Bankrupt
...Ex. 295; overruled, Archbold, i., 446, note. Metropolitan Counties Insurance Society v. BrownENR 26 Beav. 454. Oriental Bank v. ColemanENR 3 Giff. 11. Lindon v. SharpUNK 7 Scott, N. R. 730. Worsley v. De Mattos 1 Bur. 467. Smith v. CannanENR 2 E. & B. 35. Stanger v. WilkinsENR 19 Beav. 626.......
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Lacon v Liffen
...void. [Graham v. Chapman (.12 C. B. 85), Exparte Sparrow (2 De G. M. & G. 907), Smith v. Cannan (2 Ell. & B. 35), Oriental Bank v. Coleman (3 Giff. 11), were also cited.] Mr. Malins was heard in reply. the vice-chancellor [Sir John Stuart]. The first question in this ease is as to the valid......
- Lacon v Liffen