This case was about whether creditors could be ranked for the penalties specified in heritably secured bonds. The affected creditors argued that they should be ranked for the penalties to the extent of their actual expenses. They further argued that the court had previously used its equitable powers to limit recovery with respect to penalty provisions, but not foreclosed recovery altogether. The respondents contended that creditors could never be ranked for penalties.
Documents in this case (1)
People involved
- James Ballantyne — Petitioner
- Dr. Thomas Young — Petitioner
- Isabella Edmonston — Petitioner
- Matthew Ross, of Candie — Advocate for Petitioner
- George Nicolson, of Jerviston — Named in case documents
- James Edmonston, of Ednam — Named in case documents
- Robert MacQueen, Lord Braxfield — Lord Ordinary
This case was about whether creditors could be ranked for the penalties specified in heritably secured bonds. The affected creditors argued that they should be ranked for the penalties to the extent of their actual expenses. They further argued that the court had previously used its equitable powers to limit recovery with respect to penalty provisions, but not foreclosed recovery altogether. The respondents contended that creditors could never be ranked for penalties.
