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Colonial Cases

In re Societe Vinicole, 1895

[company law, winding up]

In re Societe Vinicole de Turque (Limited)

Consular Court, Constantinople
1895
Source: The Times, 12 August 1895

 

IN RE SOCIETE VINICOLE DE TURQUE (LIMITED).

This was a petition by the company and a majority of the shareholders, and it revealed a somewhat peculiar state of affairs.  The Company was incorporated in 1893; its registered office was in London, but many of its shareholders resided in Constantinople.  On March 13 and 28, 1895, meetings were held in Turkey and resolutions passed for the voluntary winding up of the company, and a liquidator was appointed.  On a motion by him in the Consular Court of Constantinople an order was made that the manager of the company should deliver up to him all the assets of the company.  A letter was also sent by some of the shareholders in Turkey to the registrar of joint Stock Companies in Lon don stating that the resolution for a winding up had been passed.  He acted on this letter, and the resolutions were duly filed and gazetted.

The petitioners alleged that the proceedings were irregular from beginning to end; that the meetings had been improperly called and in sufficiently attended, and that the resolutions were invalid and ought not to have been registered.  They asked, as persons aggrieved, for a declaration that the resolutions were null and void, and that the filing of them with the registrar ought to be vacated. .....

Published by Centre for Comparative Law, History and Governance at Macquarie Law School