LONDON LOANS.
PAYMENT OF INTEREST IN N.Z. CURRENCY. QUESTION TO BE TESTED. (PKES.9 ASSOCIATION. T*f,EGBAM.) INVERCARGILL, June 13. The Southland Electric Power Board to-day decided to undertake a test case in the King's Bench Division, London, to ascertain whether it can make interest payments on its London loans in New Zealand currency. If the board succeeds in its action, it will be freed from the expense of the present exchange rate of 25 per cent. The legality of such action had been considered by the board previously, and it was at the request of the Minister for Finance that the decision to undertake a case was reached. It is understood that Sir Gerald Hurst, K.C., will represent the board.
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Bibliographic details
Press, Volume LXIX, Issue 20881, 14 June 1933, Page 8
Word Count
119LONDON LOANS. Press, Volume LXIX, Issue 20881, 14 June 1933, Page 8
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