Company’s Debt £85,560; £890 Paid To Creditors

Press, Volume C, Issue 29682, 28 November 1961, Page 18

Company’s Debt £85,560; £890 Paid To Creditors

(New Zealand Press Association)

AUCKLAND, Nov. 27. A total of £B9O 12s 4d has been paid to creditors of Rawson-Davis Pty, Ltd., by the liquidator of the company, Mr N. Barclay. The creditors—about 2750 —proved debts totalling £85,560 10s 7d. The liquidator has paid a first and final dividend of 2}d in the £l. A meeting of creditors has been called for December 13. In a statement accompanying the notice of the dividend, the liquidator said the matter of selling stocks was gone into most carefully. After taking options, the majority of the stock was sold by public sale, and by auction. The sales brought £405 13s. The sale of the Queen street premises of the company brought £1045 10s. It appeared that when the affairs ot the company began to deteriorate about the beginning of 1960, a director, Bernard Davis, was on tour in Europe. Several requests by another director, Thomas Michael Wardle, to Davis to return were not met with success* “At the time of the liquidation, Davis was in hospital in,

Munich, West Germany, with a broken leg.” said the liquidator. “Subsequently, he was convalescing in a Munich hotel,” he said, “Davis, in letters to the liquidator, said that he would return to New Zealand when his leg was healed, but fixed no time of arrival and has not now been heard of for more than a year.” It appeared at this stage that Davis would not return, he said.