The Law Reports (Chancery Division)
[1954] Ch 169
[COURT OF APPEAL]
In re
OLD SILKSTONE COLLIERIES LD.
[1953 No. 00402.]
1953 Nov. 30;
Dec. 1, 2.
Dec. 1, 2.
Evershed M.R., Jenkins and Morris L.JJ.
Company
— Reduction of capital
— Colliery company
— Assets of company taken over by National Coal Board
— Preference capital reduced on footing that right to claim adjustment of compensation unaffected
— Resolution for repayment of preference stock in full
— Validity
— Whether reduction just and equitable
— Terms of earlier company's circular
—
Companies Act, 1948 (11 & 12 Geo. 6, c. 38), ss. 66, 67
—
Coal Industry Nationalization Act, 1946 (9 & 10 Geo. 6, c. 59), s. 25.
Company
— Shares
— Preference. Coal
— Nationalization
— Compensation.