May saw the company trying to raise further funds via a parliamentary bill. However, by June 25, the House of Lords had rejected the bill and the board took steps to protect the company's property from its creditors. Matters were hardly helped when deputy chairman Samuel Laing resigned to become the chairman of the London, Brighton & South Coast Railway on July 1. On July 2 a suit was bought before vice-chancellor Sir Richard Malins and the GER was placed into chancery.