Date of Decision: 4 Jul 1772
Abstract: Francis Garbet, Charles Gascoigne, and Peter Capper entered into a partnership under the name Francis Garbet and Company. The partnership is in the business of conveying goods to and from London and other places along the coast of England. Due to financial difficulty, Gascoigne applied to the court to sequester the partnership's property so that timely payments could be made to the partnership's creditors. George Home was appointed factor on the sequestration. Gascoigne now seeks to withdraw or amend the application. Gascoigne claims that he was unaware of the effect of this sequestration under Scots law, having received his formal education and training in England. Under the law of Scotland, creditors of a company can claim not only the company's property, but the personal property of the individual partners as well. Under the law of England, in contrast, creditors of a company can only draw on the personal property of the individual partners after private creditors of the individual partners have been satisfied. The partners of Francis Garbet and Company seek to sequester only the partnership's estate, not the individual estates of the partners.
Subjects: Bankruptcy, Sequestration

Published Report

Not Reported

People or Organizations Associated with Case

Francis Garbet, Partner of Francis Garbet and Company
Charles Gascoigne, Partner of Francis Garbet and Company
Peter Capper, Partner of Francis Garbet and Company
Named in case documents:
George Home, Factor in sequestration