The Law Reports (Appeal Cases)
[1949] AC 462
[HOUSE OF LORDS]
SCOTTISH INSURANCE CORPORATION, LIMITED APPELLANTS; AND WILSONS & CLYDE COAL COMPANY LIMITED RESPONDENTS.
1949 Mar. 1,
2,
3;
May 6.
May 6.
VISCOUNT MAUGHAM, LORD SIMONDS, LORD NORMAND and LORD MORTON OF HENRYTON.
Company
— Reduction of capital
— Impending liquidation
— Colliery company
— Nationalization of industry
— Shareholders' rights
— Preference and ordinary shares
—
Companies Act, 1929 (19 & 20 Geo. 5, c. 23), 463s. 55, sub-s. 1
—
Coal Industry Nationalization Act, 1946 (9 & 10 Geo. 6, c. 59), s. 25.