Ryan v Edna May Junction Gold Mining Company [1916] HCA 37

OF AUSTRALIA. 487

H. C. or A. 1916. —

Appeal allowed. Order appealed from dis- Sreiey

charged. Order as stated in judgment of ore

Griffith C.J.

ee i 1Babe

(HIGH COURT OF AUSTRALIA.] .

4 - < et Hi i . . APPELLANT;

AND

NA MAY JUNCTION GOLD MINING COMPANY NO LIABILITY . RESPONDENTS.

_ DEFENDANTS,

ON APPEAL FROM THE SUPREME COURT OF SOUTH AUSTRALIA.

Voluntary liquidation—Meeting—Resolution—Notice—Distribution of H.C. or A. i— Companies Act 1892 (S.A.) (No. 557), secs. 134, 152. 1916.

By anarticle of association of a company, the capital of which consisted FORE,

partly of vendor's paid up shares and partly of contributing shares, it was May 25, 26. ided that if the company should be wound up the assets remaining after MurgouRNE,

paying the costs and expenses of and attending the liquidation and the debts of one Se

'the company should be applied in the first place towards repaying to the mem-

wn 'bers pro rata the amounts paid up, or deemed to be paid up, on their shares, and Earees

"that the surplus (if any) should be distributed between all the members pro Gavan Dully JJ.

"rata according to the number of shares held by them respectively, " provided,

however, that if the company shall go into voluntary liquidation at any time

within six calendar months after its incorporation by reason of the non-return

H.C. or A,

1916. —,

Ryan v.

Epna May

JuNcTION GoLp

Minie Co.

No Lrasivity.

HIGH COURT [1916. of any profit to the company, then and in any such case the vendor's shares shall not confer upon the proprietors thereof any rights to participate in the surplus assets until the capital actually paid up on the contributing shares — shall have been fully repaid." It was also provided that notices of general