INVESTMENT TRUST

Ashburton Guardian, Volume 56, Issue 29, 15 November 1935, Page 6

INVESTMENT TRUST

AN APPLICATION TO COURT. DEBENTURE-HOLDERS’ POSITION WELLINGTON, This Day. Application will be made belore a Judge in the Supreme Court on Tuesday for permission to convene a meeting of debenture-holders in tlie Investment Executive Trust of New Zealand, in liquidation. The application will he made. on behalf of William Henry Bracey, a farmer, of Avondale, Auckland, who claims to be a creditor of the company. An order will be sought giving applicant liberty to convene a meeting of debenture-holders for the purpose and, if thought fit, approving, with or without modification, a scheme or arrangement proposed by him between the company, its liquidator the Public Trustee, and the debentureholders. Directions will also be sought as to the method of convening the meeting and its conduct. In particular directions will be sought as to the right of debenture-holders, including the Public Trustee as liquidator, to vote at the meeting in person or by proxy. It is suggested that the Public Trustee should he appointed chairman o£ tiie meeting, and that he should report the result of the meeting to the Court, which will then be asked to make a further order. Mr H. P. Richmond (Auckland), will represent applicant and the Public Trustee when the matter is mentioned on Tuesday.