Liquidator Appointed

Press, Volume CVIII, Issue 31727, 10 July 1968, Page 20

Liquidator Appointed

A meeting of creditors yesterday instructed the Official Assignee (Mr J. B. K. Curran) to act as liquidator of Andrew A. Dryden and Company, Ltd. The principal shareholder in the company (Mr A. A. Dryden) told the meeting that the company had debts of $3270, assets of $62 and provisional credits of $312. He said that he was in hospital for three months last year after an accident. Mr Dryden’s painting and Interior decorating business, which he started in 1965, had suffered early reversals because it was unable to carry debts for extended periods. Exterior painting jobs had hardly paid for themselves and there was limited interior work.

While he was on one job stock worth $5OO had been stolen and tools worth $l2O. belonging to an employee had also been taken. The company had made good the loss to the employee. Mr Dryden had been badly injured while driving the company’s van. The company had been set back further by two major debts of more than $l2OO of which only a small amount bad been repaid to it. Mr Dryden said the company had continued work while he was in hospital but some of his employees had spent time painting their own houses when they should have been doing the work for which they were being paid. The meeting instructed Mr Curran to sell the assets of the company and try to recover $312 said to be owing to it