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Victorian InsolvencyBankruptcy, Imprisonment for Debt, and Company Winding-up in Nineteenth-Century England$
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V. Markham Lester

Print publication date: 1995

Print ISBN-13: 9780198205180

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198205180.001.0001

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Company Winding-up in Victorian England

Company Winding-up in Victorian England

Chapter:
(p.222) 6 Company Winding-up in Victorian England
Source:
Victorian Insolvency
Author(s):

V. Markham Lester

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198205180.003.0006

This chapter examines the history of English legislation for company winding-up during the 19th century. It suggests that Parliament had anticipated the increase in the number of joint-stock companies with the introduction of limited liability and that it had carefully created procedures for company winding-up. This system became virtually identical to the bankruptcy system in 1980. This chapter analyses the statistics related to company winding-up and estimates that annual losses to shareholders were in the range of two to three percent of paid-up capital.

Keywords:   limited liability, bankruptcy, annual losses, shareholders

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