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THE BANK APPEAL CASE.
JUDGMENT RESERVED BY FULL COURT:
FINÁL ARGUMENTS.
THE HONGKONG TELEGRAPH, WEDNESDAY,
shape or form that the present esse was to be his line of argument. On the contrary, the notice of motion which was filed indicated that it had never occurred to him to lodge notice that Paris was the head of fice of liquidation. Hc (counsel) thought the Court would agree with him that it was an eleventh hour thought, upon which there was no evidence before their Lordships.
If they looked at the whole of the evidence they must come to the con- After a sitting of two days, the clusion that until the last minute it appeal against a judgment de- was intended to proceed with the livered by Sir Henry Gollan in notice of motion which was to ask connexion with the liquidation of for the reversion of the whole of the Russo-Asiatic Bank, was conthe judgment of Sir Henry Gollan eluded in the Full Court of Appeal and to ask for an order for the yesterday afternoon, when judgmoney to be transferred to Shang Continuing his address after hai. Having recognised that the tiin, Mr. Jenkin said he gathered application for an adjournment, of that when the Court rose the day which they had had specific notice, before, His Lordship, the President was futile, the Shanghai liquidator of the Court, indicated that how thought of the unprecedented step ever the speech of Mr. Potter of throwing out to the Court the been formulated, it suggestion that the Court should might have was in fact a definite application ascertain if there was a third party by the Shanghai liquidator. The and the possibility of its interest in the rest of his (counsel's) argument the transfer of the surplus assets
to it. He (counsel), asked would be guided by that view,
Court, was that a good ground for allowing an adjournment?
ment was reserved.
Sir Peter Grain replied that he did not think that was the view of the Court.
Mr. Jenkin said he would address them further on that point. Was
Seven Submissions
He submitted the following points
he to understand that the claims to why the Court should dis
rade under the notice of motion allow the appeal and the applica-
of May 13. that the surplus monies tion for an adjournment:
in Court be directed and paid to the
in Shanghai, liquidators abandoned?
Mr. Potter:-Most certainly. am not asking for it to be sent to Shanghai, but to Paris.
(1) Lack of time; (2) Incon- wassistency of the present case with that presented in the Court below: an adjournment (3) Suppesing was granted, they could not argue because there was no locus standi Mr. Jenkin: Then is it suggest-for arguing the case for a third ed by the claimant, who has now party; (4) In any event, if they ad- abandoned this claim, that this mitted the case, there was no evi- Court should accept his invitationdence available; (5) There was to consider the possibility of some umple evidence in Paris that the third person having this surplus, liquidation concerned had know- upon an application in which they ledge of the local surplus, but had the London are entirely unable to show to this refused to make any claims here; Court that this third person (i.c. (6) Why should
have to suffer another Paris) has any claim to that sur-creditors
Sole Agent plus and that it would be in any postponement of some six months
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way beneficial to the liquidators?
Shanghai
Sir Peter Grain:-I can't answer that.
Mr. Jenkin :-I was going to put it in a more simple form.
Sir Peter Grain (to Mr. Potter): -You don't know if this is to be beneficial to Shanghai or not?
Mr. Potter:-No, I don't know.
Beneficial To All
B Mr. Jenkin said the position they
T
arrived at was that the Shanghai
before they obtained their rights?' (7) It was not a matter of 48 hours' adjournment. If they cabled to Paris (and heaven knew who not it). it would would answer solve the difficulty.
Sir Peter Grain asked if Mr. Jenkin had any idea as to the num ber of branches there were.
Mr. Jenkin replied that there were 86 in Russia, which had "gone west", 16 in China, India and Japan. one in France and one in England. In his address to the Court. Mr. Alabaster referred to the petition
Eliquidator entirely abandoned the in which, he said, two Chinese that the surplus be sent to gentlemen had sworn that the head Shanghai, and instead threw out a office was at pasive to
declaration was honest and made as the result of enquiries, but they could not be expected to know of their own knowledge. Paris. said Mr. Alabaster, had never controlled Hongkong. The capital for the Hongkong branch was subscribed! by Shanghai and the local branch had been under the direction of Shanghai.
I
ascertain, ave or nay, if some third party was interested in it and he was unable to support that ap plication with even the suggestion that if that third party was in terested, it would benefit by it. He (Shanghai), would have no interest at all if it was found that Paris was interested in the surplus.
Mr. Potter said that it would be beneficial to all the creditora in China.
J
Sir Peter Grain pointed out that
Attitude of Paris.
JULY 30. 1930.
CRASH
PRICES
Mr. Alabaster went on to say that Mr. Fleming, the special manager, Mr. Potter did not know if it was wrote to London and Paris, as a re-
rsing to beneft his clients. It'sult of which London came in late
might or it might not.
and made a claim-not as the head
Mr. Jenkin submitted that it was office but a claim on behalf of
A COMPLETE
a point which might have been increditors in London. Paris, how- vestigated during the 5 months ever, had indicated that they had between the Judgment and the nothing to do with Hongkong and Thearing of
that appeal. Their would not recognise claims. Al- Lordships were more experienced though Paris knew that in Hong- than he in a proposition of that kong there was a surplus they would kind, but he put it to them that have nothing to do with it and evi- such a proposition had never beendenced that desire by staying out put before them in their experience. of the proceedings.
A litigator failed entirely before After pointing out that the ap-- the trial Judge, and then came plication was not made by a before a Court of Appeal and said Paris liquidator nor by a French that having failed entirely to creditor. counsel submitted, on be- establish his case, he would sug-half of the Official Receiver. that gest the possibility of a third party the judgment should stand. which may have rights which he
In replying, Mr. Potter reiterated
CAR TROUBLE? had claimed but failed to establish his position, saying that in such an
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and that they now suggested that extraordinary, unusual, and unique the Court of Appeal should make case, they did not know where enquiries regarding that third the head office was and they were party.
only asking for the admitted rule of law to be applied, that the Court should adjourn the matter make enquiries directed to 18- certaining where the head office was so that assets could be sent Counsel reminded them that in
Novel Proposition. At least he thought they would agree that it was entirely novel, and wit out being desirous of hurt- ing his learned friend, who was but there. the mouthpiece of his cifent,
he
submitted that the application was the Court below he argued that the
entirely without parallel. Mr. Yevinsky should not have shirked
his responsibility. He wanted an
company had been dissolved and cach branch outside Russia had become a separate and independent
other
adjournment to show that the sur- entity. Therefore, he disputed the plus should be transferred to authority of Paris or any Paris, but had not shown any branch дв the principal office. Sir Henry rounds that if such an order was However, accepting made, anybody would be bettered Gollan's finding against him, that had not been dis- by it. The result was that he was the company placing himself on a pedestal which solved and was still existent, then he had never occupied before, in there must be a head office which asking on behalf of all the creditors would be the principal seat of at large for the transfer of the liquidation. money elsewhere.
He (Mr. Jenkin) was going to
Mr. Alabaster's Affidavit.
OUT
treat this as an advocation by Mr. In support of his contention that Yevinsky for an adjournment, and he had made out a prima facie case, he thought that he should have the that the head office was in Paris, courage to come forward and make Mr. Potter referred to an affidavit
PRINTING PRESS his case quite clear. There was led by Mr. Alabaster in the pre-
AGENTS FOR The
Hongkong Telegraph.
TO WHOM ALL LOCAL ENQUIRIES SHOULD BE ADDRESSED;
no doubt that Mr. Yevinsky was vious action brought by the Shang the legal adviser to the Shanghai thai creditors, in which he set out liquidator, and that probably at in the defence that instructions were counted for the nimbleness of the given to the Shanghai branch to argument(Laughter).
go into liquidation by the ad-
The judgment had been delivered ministration of the bank in Paris five months ago, and he submitted which, from 1918 until 1926, had it was quite clear that the appeal held control over the Far East should not have been lodged with Yet. Mr. Alabaster would have them its costs, until the appellant had believe that he had never contem- collected his material. He had plated Paris as the head office. nearly six months in which to work Referring to another-document, up his case. The appeal was Mr. Potter pointed out that Mr. E. lodged three months after the judg. Agassiz had also contemplated. ment without disclosing in any (Continued on Page 18.).
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