https://www.taxtmi.com/caselaws?id=97885 An English mortgage over uncalled share money creates a security interest for the mortgagee while preserving the company's equity of redemption and does not, by itself, bar the liquidator from including a shareholder in arrears in the list of contributories. Statutory liability of past and present members to contribute unpaid share money remains exercisable; the liquidator may make calls, include the shareholder as contributory and realise sums to satisfy the mortgagee with any surplus for the liquidation. The mortgagee's remedies are exercised through the company or liquidator rather than by excluding the company's calling power. en-us Thu, 05 Oct 1961 00:00:00 +0530 Wed, 18 Jan 2012 14:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97885 An English mortgage over uncalled share money creates a security interest for the mortgagee while preserving the company's equity of redemption and does not, by itself, bar the liquidator from including a shareholder in arrears in the list of contributories. Statutory liability of past and present members to contribute unpaid share money remains exercisable; the liquidator may make calls, include the shareholder as contributory and realise sums to satisfy the mortgagee with any surplus for the liquidation. The mortgagee's remedies are exercised through the company or liquidator rather than by excluding the company's calling power. Case-Laws Companies Law Thu, 05 Oct 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97885