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Scottish Court of Session Decisions |
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You are here: BAILII >> Databases >> Scottish Court of Session Decisions >> Accountant in Bankruptcy v. A. B [1865] ScotLR 1_67 (9 December 1865) URL: http://www.bailii.org/scot/cases/ScotCS/1865/01SLR0067.html Cite as: [1865] SLR 1_67, [1865] ScotLR 1_67 |
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Page: 67↓
A trustee on various sequestrated estates censured (on report of accountant) for not lodging money belonging to the estates in bank within the statutory period, and found liable in expenses.
This was a report to the Court under sections 159 and 161 of the Bankruptcy Act, in regard to the conduct of an accountant in Glasgow who was trustee on various sequestrated estates. The complaint against him was that, in contravention of the statute, he had retained the funds of the estate in his own hands, instead of lodging them in bank, for more than the statutory period, and that in one case he had failed to consign in bank a dividend due to a contingent creditor. The trustee admitted the irregularities complained of, and expressed his deep regret that they had occurred; but he explained that the practice was common in Glasgow. It was also explained that the trustee had resigned one of the trusteeships, and had arranged with the creditors on the others for the payment of penal interest.
The Lord President said that this was a violation of the statute which the Court could not refrain from expressing their strongest disapproval of, as it had been reported to them. It is said to be a practice. If so, the sooner it is condemned the better. The trustee seems to be now practically out of office, and it is unnecessary to do anything more than to find that there has been a most improper violation of the statute which would have warranted removal from office, and which the accountant in bankruptcy has quite properly brought under our notice.
Page: 68↓
Counsel for Accountant in Bankruptcy—The Lord Advocate and Mr H. J. Moncreiff. Agent— Mr A. Murray, W.S.
Counsel for Trustee— Mr Patton and Mr Scott. Agent— Mr John Walls, S.S.C.
