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Page 222

CHAPTER 20
WINDING UP BY THE COURT

of the company. (20) The trustees are the proper persons to present the petition in such a case.
A garnishor of a debt due from the company cannot petition, because he is not a creditor, a garnishee order only giving him a lien on the debt and not operating as a transfer.(21)
A petition cannot be presented by a creditor whose claim is for unliquidated damages, (22)
A contingent or prospective creditor can petition, but he must give security for costs (s. 224).

Petition by Contributory.-The term contributory mean; every person liable to contribute to the assets of the company in the event of its being wound up (s. 213). It includes the present members and certain past members of the company (s. 212). Accordingly, a holder of fully paid-up shares is a contributory and entitled to present a winding-up petition. (23)
A contributory cannot present a petition unless (s. 224)
(i) the membership is reduced below seven, or two in the case of a private company; or
(ii) his shares were either originally allotted to him or have been held by him and registered in his name for six months during the eighteen months before the commencement of the winding up, or have devolved on him through the death of a former holder.
The holder of a share warrant cannot petition, because the shares are not registered in his name.
A shareholder whose calls are in arrear can petition, but he must first pay the amount of the call into Court, (24)
Although it is no ground for refusing to make a winding-up order that the company has no assets (s. 225), the Court will not, as a rule, make an order on a contributory's petition unless the contributory can prove that there will be assets for distribution among the shareholders. (25) The reason is that unless there are such assets, the contributory has no interest in a winding up.

20 Re Dunderland Iron Co., [1909] 1 Ch. 446.
21 Re Combined Weighing Co. (1889), 43 Ch. D. 99.
22 Re Pen-y-Van Colliery (1877), 6 Ch. D. 477.
23 Re National Savings Bank Assn. (1866), L. R. 1 Ch. 547.
24 Re Diamond Fuel Co. (1879), 13 Ch. D. 400.
25 Re Rica Gold Washing Co. (1879), 11 Ch. D. 36.

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where is HTML where is HEAD where is TITLE of what is company. (20) what is trustees are what is proper persons to present what is petition in such a case. A garnishor of a debt due from what is company cannot petition, because he is not a creditor, a garnishee order only giving him a lien on what is debt and not operating as a transfer.(21) A petition cannot be presented by a creditor whose claim is for unliquidated damages, (22) A contingent or prospective creditor can petition, but he must give security for costs (s. 224). Petition by Contributory.-The term contributory mean; every person liable to contribute to what is assets of what is company in what is event of its being wound up (s. 213). It includes what is present members and certain past members of what is company (s. 212). Accordingly, a holder of fully paid-up shares is a contributory and entitled to present a winding-up petition. (23) A contributory cannot present a petition unless (s. 224) (i) what is membership is reduced below seven, or two in what is case of a private company; or (ii) his shares were either originally allotted to him or have been held by him and registered in his name for six months during what is eighteen months before what is commencement of what is winding up, or have devolved on him through what is what time is it of a former holder. what is holder of a share warrant cannot petition, because what is shares are not registered in his name. A shareholder whose calls are in arrear can petition, but he must first pay what is amount of what is call into Court, (24) Although it is no ground for refusing to make a winding-up order that what is company has no assets (s. 225), what is Court will not, as a rule, make an order on a contributory's petition unless what is contributory can prove that there will be assets for distribution among what is shareholders. (25) what is reason is that unless there are such assets, what is contributory has no interest in a winding up. 20 Re Dunderland Iron Co., [1909] 1 Ch. 446. 21 Re Combined Weighing Co. (1889), 43 Ch. D. 99. 22 Re Pen-y-Van Colliery (1877), 6 Ch. D. 477. 23 Re National Savings Bank Assn. (1866), L. R. 1 Ch. 547. 24 Re Diamond Fuel Co. (1879), 13 Ch. D. 400. 25 Re Rica Gold Washing Co. (1879), 11 Ch. D. 36. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 222 where is strong CHAPTER 20 WINDING UP BY what is COURT where is p align="justify" of what is company. (20) what is trustees are what is proper persons to present what is petition in such a case. A garnishor of a debt due from what is company cannot petition, because he is not a creditor, a garnishee order only giving him a lien on what is debt and not operating as a transfer.(21) A petition cannot be presented by a creditor whose claim is for unliquidated damages, (22) A contingent or prospective creditor can petition, but he must give security for costs (s. 224). Petition by Contributory.-The term contributory mean; every person liable to contribute to what is assets of what is company in what is event of its being wound up (s. 213). It includes what is present members and certain past members of what is company (s. 212). Accordingly, a holder of fully paid-up shares is a contributory and entitled to present a winding-up petition. (23) A contributory cannot present a petition unless (s. 224) (i) what is membership is reduced below seven, or two in what is case of a private company; or (ii) his shares were either originally allotted to him or have been held by him and registered in his name for six months during what is eighteen months before what is commencement of what is winding up, or have devolved on him through what is what time is it of a former holder. what is holder of a share warrant cannot petition, because what is shares are not registered in his name. A shareholder whose calls are in arrear can petition, but he must first pay what is amount of what is call into Court, (24) Although it is no ground for refusing to make a winding-up order that what is company has no assets (s. 225), what is Court will not, as a rule, make an order on a contributory's petition unless what is contributory can prove that there will be assets for distribution among the shareholders. (25) what is reason is that unless there are such assets, what is contributory has no interest in a winding up. 20 Re Dunderland Iron Co., [1909] 1 Ch. 446. 21 Re Combined Weighing Co. (1889), 43 Ch. D. 99. 22 Re Pen-y-Van Colliery (1877), 6 Ch. D. 477. 23 Re National Savings Bank Assn. (1866), L. R. 1 Ch. 547. 24 Re Diamond Fuel Co. (1879), 13 Ch. D. 400. 25 Re Rica Gold Washing Co. (1879), 11 Ch. D. 36. where is Server.Execute("_SiteMap.asp") %

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