Z660/D/1/5

Deed of Composition Parties: (i) Creditors of Thomas Sworder [as shown in Schedule]; (ii) Thomas Sworder; (iii) William Anstee of Chalton, Toddington, farmer; John Cook of Brammingham, Luton, farmer; Benjamin Bennett the younger of Dunstable, straw hat manufacturer Reciting: - (ii) had for some time carried out the trade of a brewer in Luton under the name of Thomas Sworder & Co; - being unable to pay his creditors, (ii) called a meeting on 16 May 1862, adjourned to 30 May 1862, at which John Anstee of Lewsey, Luton, farmer, John Cook and Benjamin Bennett the elder of Dunstable, straw hat manufacturer put the proposal, on behalf of (ii), that they should secure payment to the creditors by composition of 5/- in the pound, payable in two equal instalments on 1 Oct 1862 and 1 Jan 1863; - William Anstee and Benjamin Bennett the younger agreed to stand in place of John Anstee and Benjamin Bennett the elder; - the creditors approved the proposal; - (iii) gave (i) Bills of Exchange for payment of first instalment of 2/6 Operative Part: in consideration of the premises - (i) covenanted with (ii) that until default in meeting any of the bills of exchange at maturity they would not sue (ii); - (i) covenanted with (ii) that if tany of them broke the covenant (ii) would be free of the debts owed to those breaking the covenant; - (i) covenanted with (ii) that once the composition was met, (ii) would be free of any debt to them; - (i) declared that the agreement did not prejudice their rights against anyone other than (ii) or prejudice any security they had against their claims, except that if they enforced the security the composition would only compensate them for the amount of the debt that the security did not meet; - (i) declared that if (ii) defaulted on payment of the bills at maturity, or went bankrupt, the agreement would cease Schedule: - Signatures of a large number of creditors, with witnesses

1 Oct 1862

From: 1862 To: 1862

English

item

Anstee, William,
Cook, John,
Bennett, Benjamin,
T.Sworder & Company,
Anstee, John

debt, farmers, brewers, brewing, straw hat manufacturer, companies