482

Restrictiou
of rights ol
creditor as
to excention
or altach-
ment.

Ch. 31. No. 1.] Compantes.

liabilities and obligations as if the lease had been
assigned to that person at that date;

and in either event (if the case so requires) as if the lease had
comprised only the property comprised in the vesting order,
and any mortgagee or under-lessee declining to accept a
vesting order upon such terms shall be excluded from all
interest in and security upon the property, and, if there is no
person claiming under the company who is willing to accept
an order upon such terms, the Court shall have power to
vest the -state and interest of the company in the property
in any person liable cither personally or in a representative
character, and cither alone or jointly with the company to
perform the lessee’s covenants in the lease, freed and
discharged from all >states, encumbrances and _ interests
created therein by the company.

(7) Any person injured by the operation of a
disclaimer under this section shall be deemed to be a creditor
of the company to the amount of the injury, and may
accordingly prove the amount as a debt in the winding up.

254. (1) Where a creditor has issued execution against
the goods or lands of a company or has attached any debt
due to the company, and the company is subsequently
wound up, he shall not be entitled to retain the benefit
of the -xceution or attachment against the liquidator in the
winding up of the company unless he has completed the
“xecution or attachment before the commencement of the
winding up’

Provided that—-

(a) where any creditor has had notice of a meeting
having been called at which a resolution for voluntary
winding up is to be proposed, the date on which the
creditor so had notice shall for the purposes of the
foregoing provision be substituted for the date of the
conunencement of the winding up; and

(b) a person who purchases in good faith under a sale
by the Marshal any goods of a company on which an
execution has been levied shall in all cases acquire a
good title to then: against the liquidator.

(2) lor the purposes of this section, an execution
against gcods shall be taken to be completed by seizure and