Charitable Corporation - The Aftermath

The Aftermath

The result of the frauds was to deprive the Charitable Corporation of the bulk of its assets. Bankruptcy proceedings against George Robinson and John Thomson continued for a long time, evidently due to litigation. They ended with a dividend being paid from Robinson's estate in 1748, and from Thomson's in 1747. Proceedings were taken against Sir Robert Sutton, leading to judgment being given in 1742 against him, that he was liable to make the Company's losses though the Five Partners were primarily liable (see The Charitable Corporation v Sutton). Following the decree, the company sought to obtain an Act to assist with the enquiries directed by the Court of Chancery on 18 August 1742, but this was rejected. In 1743, Sutton and the Company entered into a deed of mutual release.

The subsequent history of the company remains unclear.