Company Law a Concise Manual of the Law And Practice Connected With the Organiz

Cover Company Law a Concise Manual of the Law And Practice Connected With the Organiz
Company Law a Concise Manual of the Law And Practice Connected With the Organiz
William Ruston Percival Parker
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J. Q. 330, Q. B.
Twenty years after a compromise was made with a contribu- tory, an action was commenced against him on the ground that when negotiating with the liquidator he concealed his assets. It was held that no concealment was proved or could be assumed after so long a time. Watt v. Assets Co. (1905), A. C. 317.
It is common for a contributory or debtor to endeavour to effect a compromise and he is generally required to make an affi- davit as to his means, and if it is desirable he can b
...e cross- examined thereon. If the liquidator is satisfied to compromise he generally enters into a provisional agreement with the con- tributory, embodying the terms of compromise and then applies for the approval of the Court.
The following forms may be ased : — AFFIDAVIT OF CONTRIBUTORY WITH A VIEW TO CO^klPROMISE.
( Style of cause. ) 1. I am a contributory of the above Company and have been settled on the list for the sum of, and the said sum has been called.
2. I am unable to pay the said sum in full.


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