SUPREME COURT WINDING UP ORDER FOR CONSTRUCTION COMPANY
An order he made on October 23 approving a scheme to continue the Walker Construction Company, Ltd., in business was rescinded by Mr Justice Adams in the Supreme Court yesterday. His Honour made an order for the winding up of the company. The scheme, which had been approved by a meeting of deferred creditors. provided for the raising of £20.000 or alternatively £lO,OOO on mortgage, paying deferred creditors 9s in the £, and issuing preference shares free of dividend for five years for the balance of the debts to deferred creditors, those to whom debts were owing before April 7, 1955.
When the case came before the Court yesterday, Mr E. P. Wills, for the company, said he was unable to proceed with the scheme. His Honour, all counsel consenting, then rescinded the order made on October 23 approving the scheme. Mr G. H. Gould, who appeared for Geo. Poole and Sons, Ltd., timber merchants, and five other creditors, on a petition to wind up the company, asked that a winding-up order be made. Mr A. C. Perry, counsel for Oakleys, Ltd., a creditor, supported the motion for a winding-up order. The «*rder was made to wind up the company.
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Press, Volume XCIV, Issue 28154, 18 December 1956, Page 21
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207SUPREME COURT WINDING UP ORDER FOR CONSTRUCTION COMPANY Press, Volume XCIV, Issue 28154, 18 December 1956, Page 21
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