EUROPEAN G.M. CO

Auckland Star, Volume XXX, Issue 159, 7 July 1899, Page 5

EUROPEAN G.M. CO

In Chambers at the Supreme Court this morning His Honor Mr Justice Conolly delivered judgment in the case of a motion by Mr Hanna, under the Mining Companies Act, 1894, re the European Gold Mining Company (Limited). The Company went into liquidation some time ago, the Official Assi-

gnee being appointed liquidator, and a list of contributories was drawn \ij>. List A, which was to exhaust all the liability of shareholders of the amounts to be paid up on their shares, contained only one name, that of Mrs Lawry. Sir Hanna moved to strike her name out of list A, and place it on list E, by which she would have to contribute the same as the other shareholders. The question involved was whether she had forfeited her shares, and whether she was the only shareholder who had paid the final call, and had thus not forfeited her shares. The Court held that the payment made some time ago by Mrs Lawry into the Magistrate's Court was a payment of the final call without any condition (it was alleged by Mrs Lawry's cpunsel that the payment was conditional on the test case in the Magistrate's Court going- against the other shareholders), and that Mrs Lawry had paid her final call and was the owner of the shares when the Company went into liquidation. Therefore her name must be on the list that had to be exhausted before the liquidator came on the forfeited shareholders. ; ■■

The motion would be dismissed, with £3 3/ .costs. Mr Hanna appeared for Mrs Lawry, and Mr Tole for the Official Assignee.