Company's Action Against Former Chairman

Press, Volume CIV, Issue 30945, 29 December 1965, Page 16

Company's Action Against Former Chairman

(N.Z.P.A.-ReuteT— Coppripht)

LONDON, Reccmber 26.'

A former company chairman has been sued for more than a quarter of a million pounds by a corporation which paid him a reputed £170,000 a year. The British Printing Corporation announced today it was suing its former chairman, Mr Wilfred Harvey, aged 78, for the recovery of

£288,000 after a series of takeover bids. In July the corporation board disagreed over the affairs of the £4Bm organisation and Mr Harvey resigned. Sir Walter Worboys, who succeeded Mr Harvey as chairman seven weeks ago, said the proceedings were in respect of the take-over of chain libraries, a group of 64 shops.

The company’s auditors reported recently that the price paid by the corporation was recorded as £365,000 although the library company shareholders were told that the purchase price was £76,779. The corporation’s legal adviser told shareholders today that the writ against Mr Harvey claimed repayment of the difference and also made a claim in respect of damages and negligence.

TOURIST TRAIN.—A British vintage steam engine has been bought by the Government of British Colombia as a tourist attraction in one of the provincial parks. It was originally built for the Duke of Sutherland who used it on the 18 miles of private track between two of his estates in Scotland—Golspie and Helmsdale.