In Re Old Silkstone Collieries Ltd

Subject Matter

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.