The Archive · 1926

A Share Transfer Argument

Ewo Mills Certificates. Claimed' by Two People: Lawyers and Their Costs In H.M, Supreme Court, on Thursday, before Sudge Grain, Mr. E. N. Mosie brought an action against the Ewo Cotton Mills, Ld. for a deelaraflow that he is entitled to have the transfer to him by Lau Yik-chauk of 900 shares in the defendant company: an order that the defendants forthwith register the transfer: and an order that the share register of the company be forthwith rectified by the insertion of plaint! in place of that of Lau as holder of the shares, Lineon Ward appeared fo- the plain-tim and Mr. G. Hf. Wright for defendants.

Me. Ward said that on August 17, 1925, a certificate with a duly! executed' transfer was sent to the defendants, with a request to register the transfer. Defendants replied that they had heard from the registered owner that the certificate had been lost or mis laid and they had been instructed that no transfer should be effected, Plain-tit waited until quite recently. to see if anything would be done, but, nothing happened and so he was compelled to bring an action.

Wright said that Messi Wokinson & Grist, Lau Yik-chauk's solicitors in Hongkong, had been' communicated with and a day or two ago Messrs. White-Cooper & Ca. received a message from that firm. stetinge that they: had be to intervene, but no ae yet had been taken. He (Br. Wright) would endeavour to have!

Tare made a party to the action, probably as defendant in place of the Ewo Cotton Bfills.

Mr, M, B. Brown (who was Court fu "connexion with another matter) said he had received instructions to appear, but he could explain, His (rin were instructed by cable from Hoxgkong of Lau's interest in the case and they had sent a request! fo: further particulars, Tau must! he w party in some way, but until they received further particulars! they did not know what to do. Therefore he suggested an adjournment.

Me, Wright made for applica-ion for an adjournment.

Some legal argument followed as to the rule under which the case could be adjourned, in the course of which Mr. Brown said he might eventually have to contend that the} proper course for the company would have been to inform the reistered holder that he should take action claiming an injunction, other. wise they would transfer the shares, His idea at the moment was to safeguard the costs in the present case. He added, "Tt never does for Counsel to forget costs."

The hearing, was adjourned to a date to be agreed upon within the nex: fortnight.

Text read from the printed page and cleaned; old type leaves the occasional error.

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