9911796707
TMI Blog1937 (3) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... a counter application was put in by four persons who claimed to represent six contributories of Murray Co. questioning the right of Capt. Ker to make the application. It was alleged in this application that Capt. Ker was not a contributory and could not maintain the application for winding up. The same day I passed an order staying further proceedings in the matter of winding up and ordering that the question regarding the right of Capt. Ker to maintain the application be decided first. Both parties have produced affidavits in support of their allegations and the question about the right of Capt. Ker as a contributory has been argued at considerable length by the counsel for the parties. It is common ground between the parties that Mur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... racter in respect of which he purposes to act under this clause, may with the consent of the Directors be registered as a member. It appears that Capt. Ker produced his letter of administration in order to get himself registered as a member and a note was made in the Share Ledger in the name of V.M. Bason deceased to the effect that Capt. A.E. Ker was the administrator under letters of administration dated April 4, 1931. He has since been also elected as a Director though the validity of the election has been questioned before me. In these circumstances I am of opinion that Capt. Ker as administrator represents the legal estate in the shares forming part of the assets of the deceased V.M. Bason, and as such must be regarded as a contributor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctors with reference of Clause ( iv ) of section 162 that in the circumstances of the case it was not just and equitable that the company should be wound up. This was not the ground on which I had ordered stay of proceedings for winding up. However, I have heard Counsel for the parties on this point also and would therefore record my finding on it. The main argument advanced on behalf of the objectors in support of this contention is that all the contributories except those representing the estate of V.M. Bason deceased are opposed to the application for winding up and that even amongst the executors of the estate of Mr. Bason two of them have now withdrawn their powers of attorney in favour of Capt. Ker which shows their disapproval of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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