Ham v. Banque Ville Marie
Ham v. Banque Ville Marie
Opinion of the Court
The complainant bases his right to maintain this bill upon the ground that the defendánt corporation became extinct upon the appointment of liquidators, and so the original suit abated.
Stats. Canada, 53 Yict. cap. 31, § 91, relating to banks, provides that insolvency of a bank shall operate a forfeiture of its charter, so far as regards all further banking business, and the charter shall remain in force only for the purpose of enabling the directors or other lawful authority to make and enforce calls and to wind up its business.
Undef the provisions it is clear that the corporation has not become extinct in reference to the collection of a debt due to it.
Demurrer sustained.
Reference
- Full Case Name
- Franklin B. Ham v. Banque Ville Marie.
- Status
- Published