Bateman appeals dismissed

Press, Volume CXI, Issue 32540, 25 February 1971, Page 16

Bateman appeals dismissed

(N.Z. Press Association —Copyright)

LONDON, February 24.

Appeals by Bateman Television, Ltd, and Bateman T.V. Hire, Ltd, both of Christchurch, against winding-up orders made in the New Zealand Supreme Court in December, 1968, have been dismissed, with costs, by the Privy Council Judicial Committee.

The orders were made on petitions launched by Coleridge Finance Company, Ltd, which provided finance for the two companies on the security of hire-purchase agreements by Bateman Television. The two companies lost their appeal in New Zealand. The petitions alleged debts by Bateman Television of $8704, and by Bateman T.V. Hire of $166,354 which, by the time of the hearing of the petitions, had reached $247,300. The Privy Council’s reserved judgment was written by the late Lord Upjohn. Lord Upjohn has died since he and four other members of the Judicial Committee heard the appeals last month.

He said that the business of Bateman Television was to acquire and sell television sets on hire-purchase to members of the public. They also supplied sets to the hire company on hire-purchase. The latter company hired out the sets. The two companies were closely related. It was argued that, as the debts in question were disputed, winding.up orders should not have been made. But this matter had been

fully investigated in the Supreme Court where Mr Justice Macarthur held that both companies were insolvent.

The main issue in the Privy Council appeals was whether the hire-purchase agreements on which the finance corporation had lent its money were valid “customary hire-purchase agreements” or whether, as was contended by the companies, the loans amounted to money-lending transactions and were accordingly void because Coleridge Finance was not registered as a money lender. The Judicial Committee found that the agreements were valid customary hirepurchase agreements as defined by the relevant New Zealand legislation, and that the winding-up orders were properly made.

Order Annulled.—An order a .nulling an adjudication of bankruptcy against Eric Ramsay Steel, a stamp dealer, was r-ade by Mr Justice Macarthur in the Supreme Court

_>esterday. Mr G. k. Panckhurst appeared for the Official Assignee and Mr B. J. Drake for Mr Steel.