SUPREME COURT Bank building liens claim settled

Press, Volume CXII, Issue 33065, 4 November 1972, Page 13

SUPREME COURT Bank building liens claim settled

Settlement has been reached between the parties involved in the liens action case arising from the construction of the Bank of New Zealand building in Cathedral Square and the subsequent liquidation of the contractor, P. Graham and Son, Ltd, it was announced in the Supreme Court yesterday. The terms of the agreement were set out in a draft order put before Mr Justice Wilson when the hearing of the case, which began more than a year ago, was resumed yesterday.

Some of the subcontractors who were engaged to work on the construction of the bank building claimed liens and charges against the Bank of New Zealand Officers’ Provident Association, the first defendant, the Bank of New Zealand, Ltd, the second defendant, and P. Graham and Son, Ltd, building contractors, in the third defendant. His Honour declared that each of the sub-contractors j involved was entitled to a | charge on the moneys payable by the three defendants under I the contract for the erection ■of the building in the sums claimed by the subcontractors. His Honour ruled that the amount payable under the contract was $132,000 and he directed that the money be paid, distributed, and managed in the terms of the draft border which had been submitted. He also directed that i the liens registered against I the certificate of title to the Bank of New Zealand building be discharged.