FREEHOLD INVESTMENT AND BANKING COMPANY.
A PROPOSED COMPROMISE.
Melbourne, December 6. The liquidators of the Freehold Investment and Banking Company have applied to the Court for permission to accept a compromise in the action brought against the Hon. James Baltour, an ex-director, to recove' amounts of dividends and bonufes alleged to have been wrongfully paid. Mr Balfour, while denying liability, offered to pay the sum ot in settlement of the claim. A member of the Committee of Advice opposed the application, and complained that the directors had advanced to the firm of Balfour, Elliott and Co., a firm in which were the principal shareholders of the Bank, ,£59,000 on property ■vhich the Company had purchased /or enabling them to receive a profit ot each, and further that no part 0* the capital or inteiest had beeu repaid,
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Bibliographic details
Auckland Star, Volume XXIV, Issue 289, 6 December 1893, Page 5
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137FREEHOLD INVESTMENT AND BANKING COMPANY. Auckland Star, Volume XXIV, Issue 289, 6 December 1893, Page 5
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