Evening Post in London, Middlesex

Court debates power to dispose of company funds

At a General Court the question of allocating profits from fraudulent transfers was settled. Sir George Caswall presented a paper, and the court resolved that proprietors whose capital stock was taken by fraud would receive new stock at the company’s expense, unless fraud by the purchaser was proven. Debates followed on whether the General Court could direct disposal of funds, with supporters arguing it could fund relief for sufferers and even build pleasure-boats on the Thames.