Liquidation
In 1740, the affairs of the court became subject to court proceedings, partly in the Court of Chancery and partly in Scotland. In 1756, an agreement was made as to the respective priorities of various classes of creditor for payment. This was followed by an Act of Parliament in 1764 for the sale of the company's estates, enabling some of the debts to be paid. The sale of further estates was authorised by another Act in 1777, the sale taking place in 1783. An agreement with creditors was made in 1786, but only led to more litigation until a further agreement was made in 1792, though this was not approved by the court until 1802. This left the company with £10,000, some government stock and its waterworks.
The Waterworks had been in lease for over 50 years. It was sold in 1818 to the New River Company in exchange for an annuity of £250. The company was finally dissolved by Act of Parliament in 1829.
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