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Scottish Court of Session Decisions >>
Sir Alexander Cockburn of Lanton's Creditors. [1695] 4 Brn 239 (9 January 1695)
URL: http://www.bailii.org/scot/cases/ScotCS/1695/Brn040239-0542.html
Subject_1 DECISIONS of the LORDS OF COUNCIL AND SESSION, reported by SIR JOHN LAUDER OF FOUNTAINHALL.
Sir Alexander Cockburn of Lanton's Creditors
Date: 9 January 1695
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On a bill given in by some of the creditors of Sir Alexander Cockburn of Lanton, against the manner of valuing that part of his estate he has in his own hand, and not set out in tenandry, by measuring it in acres: the Lords thought these creditors could not complain, because the commission was directed upon an act obtained at their own desire, and so they could not quarrel nor impugn it. Though the Lords thought it a very fallacious method, yet it would bring in the creditors-adjudgers to get a part; whereas, if the estate were sold at the rate of 24,000 merks per annum, for which it is now rouped, they would be cut off by the preferable infeft creditors. So, if the Lords make its rental high, conform to this probation, the event will be, none will bid for it at the roup, and the land will divide among the creditors effeiring to the rate put upon it, (which is far above what any tenant could pay,) and their respective sums: Therefore, the Lords adhered to the act and commission, in so far as concerned these creditors who procured it, as the posterior creditors did not quarrel it; seeing they had the advantage of getting something, and of being brought in almost pari passu by it. But if it were not for this charitable consideration, the sustaining such an extravagant valuation would seem very strange.
