Date of Decision: 6 Mar 1776
Abstract: The parties in this case are creditors of the late William Donald, a merchant in Ayr. Through an agent, Andrew Stephenson, defender, brought the original process to rank the creditors. The creditors or their agents met to select a common agent. David, Earl of Cassilis claims that a majority of creditors voted for Alexander Abercrombie for common agent. Stephenson and his representatives prefer George Tod as agent. In an interlocutory ruling, Lord Gardenstone Ordinary nominated and authorized George Tod as common agent for the creditors. Cassilis et al. argue that Abercrombie was selected as common agent by a majority of creditors and by a majority of the value of the debts represented. The pursuers also argue that, as “preferable” creditors, they have priority over the defenders, who are “postponed” creditors. Stephenson et al. dispute specific votes at the creditor meeting, finding that certain agents for the pursuers were not authorized to vote for Alexander Abercrombie. Some creditors, they argue, did not meet the threshold amount of debt to gain a vote. For all the other creditors who meet the threshold amount of debt, the defenders reject any distinction between preferable and postponed creditors for the ranking of creditors.
Subjects: Ranking of Creditors

Published Report

Not Reported

People or Organizations Associated with Case

Archibald Maxwell, Agent for defender Andrew Stephenson and other creditors
John Bell, Agent for pursuer David, Earl of Cassilis
Alexander Abercrombie, Agent for pursuer Thomas Kennedy
Archibald McHarg, Agent for defender Andrew Stephenson
George Tod, Agent for defender Andrew Stephenson
Named in case documents:
William Donald, Decedent whose estate is at issue
Advocate for Pursuer:
Sir Ilay Campbell, of Succoth
Advocate for Defender:
William Craig
Lord Ordinary:
Lord Gardenstone