SALE OF SHARE IN BUSINESS
« TRANSACTION APPROVED BY COURT The sale of a testator’s share in a business to his surviving brother, who was also one of the executors of the will, was authorised by Mr Justice Fleming in the Supreme Court yesterday The plaintiff, Robert Wil&n Wylie, merchant, of Kaiapoi, was represented by Mr G. G. Lockwood. The defendants, Robert George Logan, printer, of Rangiora; Agnes Jean Wylie, widow, of Kaiapoi ; and Richard Logan Wylie. Alison Rachel Wylie, and Malcolm Robert Wylie, infants, were represented by Mr A. C. Fraser, of Rangiora. Mr Lockwood said that the plaintiff and his brother, William Guthrie Wylie, Were partners. William Wylie died on April 29, 1947, and by his will appointed the surviving brother trustee and one of the executors, the other executor being Mr Logan. His client had offered a settlement, which the Court was asked to approve. Mr Fraser said the chief asset ifi the estate was a half share in the business, and Robert Wylie proposed to buy this share for £5OOO.
His Honour approved the compromise, authorising the sale of the half share in the business to the plaintiff
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Bibliographic details
Press, Volume LXXXIV, Issue 25609, 25 September 1948, Page 2
Word Count
191SALE OF SHARE IN BUSINESS Press, Volume LXXXIV, Issue 25609, 25 September 1948, Page 2
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