« PreviousContinue »
his said capacity to institute and maintain any kind of action attachment or proceeding for obtaining and maintaining possession of such estate and effects, and of every part and portion thereof, which could be instituted or maintained by such Curator if he were the absolute and unconditional proprietor thereof; and a copy of the order appointing such Curator, authenticated by the seal of the Supreme Court, shall be prima facie evidence of such appointment and of such security having been given.
11. The Curator shall give twelve weeks notice of his appointment, and of the order for winding up, in the Royal Gazette, and shall in such notice call upon all persons owing the Company to pay up, and all creditors to file with him their claims against the Company, verified by oath, and in Form (A) in the Schedule of this Act, written within three months from the first publication of such notice ; and the dividends from time to time to be ordered, shall be paid to those creditors whose accounts may have been filed at the time mentioned in such notice; other creditors may file their claims, but shall only be entitled to the dividends there after ordered, unless on the final distribution there shall be sufficient assets to pay all the liabilities and the expenses of winding up the afftirs of the Company.
12. After the appointm;ut of such Curator,all suits against the Company shall be stayed, unlessthe Court, on application to that effect by the plaintiff, and after notice to the Curator, shall authorize the plaintiff to proceed with such suit, and such order may be made subject to such provisions as to future costs as the Court may think fit to make; and no member or officer of the Company, after such appointment as aforesaid, shall dispose of any of the property or assets of the Company, and no subsequent transfer of any share or interest in the Company shall be valid.
18. No transfer of any share or claim in any Company made by any shareholder or contributory within three months next before the application upon which an order for winding up such Company shall be granted, shall relieve any shareholder or contributory from liability to the Company or its Curator, for all calls which may be made by order of the Court for unpaid stock,or for which,by virtue of the Charter or Act of incorporation, he would have been liable had he not transferred the same.
14. Upon application by the Curator, the Court may from time to time.order such calls to be made, by a percentage paid to the Curator on all unpaid stock in the Company, as shall appear to be necessary towards paying the liabilities of the Company, and the expenses of winding up its affairs, and notice of such calls shall be advertised in the Royal Gazette.
15. Whenever the Court shall make an order for any call upon stockholders or contributories against unpaid stock, the Curator may sue ang stockholder or contributory in an action of debt in his own name for the amount of such call before any Court having jurisdiction to the amount of such call, and proof of the amount of such shareholder's or con. tributory's stock; and the order of the Court, or a copy thereof under the hand of the Clerk of the Pleas, or of any Judge of the Court, shall be prima facie evidence of the debt, and he shall have judgment and execution for the amount and costs, in the same manner in all respects as for a debt due to himself personally, but for the benefit of the estate.
16. The Curator appointed shall as soon as possible, without unreasonable sacrifice thereof,convert themoveable assets into money, and collect the outstanding debts and unpaid stock subscriptions due to the Company,and for that purpose may sue or be sued in his own name as Curator, and may sell in the manner he may deem most advantageous, all personal or moveable property of the Company, and, subject to an order of the Court to be obtained in that behalf, may refer debts or claims to arbitration, or compound or compromise the same: and as to the immoveable property thereof, the same shall be sold by such Curator when so ordered by the Court, after such publication and notices, and after the expiration of such tiine as the Court in such order shall appoint, and when regularly made, such sale shall have the same effect as if made by the Company, and shall convey the same title as such Company could convey, and no other title may be conveyed by any deed signed and sealed by the said Curator, or by any vesting order made by the Court.
17. The Curator shall file semi-annually with the Clerk of the Court a statement of the assets in his hands, and of the claims filed with him, verified by affidavit; and if at any time between the periods of such filing, he shall have suffi. cient assets to pay ten per centum on the claims filed, he shall make a special return thereof so verified, to the end that the Court may order a diridend to be paid to the creditors.
18. Whenever the amount of moneys realized from the assets of any Company shall appear to the Court to warrant a dividend thereof, the Court shall make an order for such dividend as the moneys so realized will warrant, which shall immediately thereafter be notified by the Curator in a local newspaper, if any, and if not, then in the Royal Gazette, and shall be paid to such creditors respectively on demand.
19. The Curator of any Company appointed in manner aforesaid shall be an officer of the Court appointing him, subject to the summary order and rule of that Court as to all matters, things and duties confided to and imposed upon him by this Act; and his accounts shall be subject to contest, the performance of his duties to be enforced, and his acts in his said capacity to be restrained and regulated in every respect on summary application by petition or motion to the Court which appointed him, and he shall be liable to attachment or removal by the Court for misconduct, or for want of sufficient security ; provided always, that when the bring. ing or defending of any suit, or the doing of any Act in the winding up of any Company, shall or may be attended with more costs than the Curator thereof shall think it expedient to lay out or risk, and any application be made to compel him to bring or defend such suit,or to do such act, the Court may order such Curator to bring or defend such suit, or to do such act, as the case may be, but on the condition only that the applicant shall give good and sufficient security to such Curator for the payment to him of any costs which may be incurred by him in obedience to such order.
20. If there be any surplus of the funds realized from the assets of any Company, after the payment of all the creditors, thereof in full, the same shall first be devoted to the adjustment of the rights of the contributories among themselves, and afterwards shall be distributed pro rata among the contributories.
21. The Court may at any time, and from time to time, make calls on any of the contributories to the extent of their respective liabilities, for payment of all or any of the sum or sums for which they are liable, and in the proportion in
which the contributories are so liable, and to the amount thereof which the Court may deem necessary to satisfy the debts of the Company, apd the costs, charges and expenses of winding it up; and it may, in making such calls, take into consideration the probability of some assets not yet collected being realized, and some liabilities not yet ascertained becoming debts.
22. No contributory to any Company in process of being wound up under this Act, shall be entitled to set off any claim he may have against such Company by way of set-off to the unpaid balances of stock held by him in such Company, unless such set-off shall have been allowed and credited to him on the books of the Company on account of such unpaid balance, previous to the application for the order to wind up such Company, and by express order of the Directors or Managers thereof.
23. There shall be paid to the Curator such salaryor remu. neration, by way of percentage or otherwise, as the Court may direct.
24. When the affairs of the Company have been completely wound up, the Court shall make an order declaring the Company to be dissolved from the date of such order, and thereupon the Company shall be dissolved accordingly.
25. The Court, as often as circumstances may require, may make such rules concerning the mode of proceeding to be pursued for winding up a Company, and may establish such table of fees, applicable to all proceedings under this Act, as from time to time may appear meet and necessary; and until such rules and such table of fees are made, it shall be competent to the Court to make any order it may deem just, and which shall not be inconsistent with this Act, for winding upany Company,and for the proceedings necessary therefor under this Act, and any power or direction contained in any such order shall be deemed to hare been fully authorized by this Act.
26. This Act shall not apply to or affect suits now pending, or to any Companies which have discontinued business, or which have been dissolved before the passing of this Act.
27. Nothing in this Act contained shall affect any existing privilege or priority of one creditor or class of creditors over another, or be construed to operate any change in the liabili. ties of parties.
SCHEDULE A. NEW BRUNSWICK, BS.
In the Supreme Court.
In the matter of (name the Company.]. A. B. of in the County of
claims of the (name the Company) the sum of due him as follows:[Particulars of claim, which may refer to an Account in detail annexed.]
The above claimant (or C. D., Agent, or Clerk, as the case may be) maketh oath and saith that the aforegoing claim is correct and true, and that the sum of
thereby demanded is justly due him by the said Company.
or Sworn to, &c.
REVISED STATUTES—TITLE VIII, CHAPTER 60.
OF HARBOURS. Section.
Section. 1 Regulations for njooring vessels, 3 Harbour Master's fees. &c., by whom made.
4 His duties. 2 Fines, to whom paid.
1. The Sessions may make regulations respecting the mooring and anchoring of vessels in the Harbours of the County, and discharging and depositing ballast, and impose such fines as they may deem right, not in any case to exceed twenty pounds.
2. Such fines, after deducting expens s of recorery not otherwise provided for, shall be paid to the Commissioners of Buoys and Beacons, who shall account for the same as provided in Chapter 18 of Title III.
3. The Harbour Master may demand and receive as his fees from the master of every vessel entering any Harbour of the Province (coasters excepted) five shillings for every ressel above fisty and not exceeding one hundred tons, and ten shillings for every vessel abore one hundred tons, and arrir. ing from one Port to another therein ; vessels owned in this Province, or from any Po:t in British North America,or from a fishing royage, shall be considered coasters; and vessels of British register, not owned in the Province, under one hun.