Ontario Reports Volume 30

Ontario Reports Volume 30

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...the directors to establish a pension fund, and made grants for that purpose. It seems to me that, the directors never having established or organised a fund, the whole matter was "in fier'i," and the grants never became impressed with any trust. After all, does what the bank did amount to any more than 1918 Rn ONTARIO BANK PENSION Fusa 1913 ONTARIO BANK PENSION Form. the setting apart of moneys of the bank for a purpose that was not carried out? The moneys were always the moneys of the bank, and, in my view, remained so. I think that it was necessary for the directors to go on and establish and organise the fund and appropriate the grants made for that purpose to it. This not having been done, the moneys granted for a purpose which was never fulfilled remain the moneys of the bank. Taking the view I have, I must dismiss the petition with costs. October 15, 1913. The appeal from the order of the Referee washeard by Born, (J., in the Weekly Court at Toronto. J. A. W orrell, K.C., for the appellants. J. A. Paterson K.C., and A. McLean Macdonell, K.C., for the liquidator and the shareholders, the respondents. October 16, 1913. Bovn, "C.: --Passing over preliminary matters set forth in the judgment of the Referee, the substantial question remains-as to the $30,000 pension fund of the Ontario Bank. This amount is now represented by that much money levied as under the double liability call made by the liquidator. Is that money impressed with a trust for the benefit of the ofi5cers of the bank, or is it to be returned to the shareholders as being unnecessarily levied? The petitioners, former ofiicers of the Ontario Bank, ask that it be impounded and administered under the direction of the Court, -and the judgment_of the Referee is...show more

Product details

  • Paperback | 272 pages
  • 189 x 246 x 14mm | 490g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236896742
  • 9781236896742