Court asked to remove Campbell directors

Press, Volume CXV, Issue 33883, 1 July 1975, Page 30

Court asked to remove Campbell directors

<N«u> Zealand Frees Associations

AUCKLAND.

A petition has been filed in the Auckland Supreme Court seeking the removal of the directors of Campbell Tube Products, one of the principal companies in the Campbell Motors group.

According to files in the Auckland office of the Com- ; merdal Affairs Division, the I petition was filed on May 21 by Mr L. F. Bedford under I section 209 of the Companies Act, 1965. Under this section, any i shareholder who . considers I that the affairs of his company are- being conducted I “in a manner oppressive to [some part of the members” may seek a court order to correct the situation.

Campbell Tube, which manufactures motor vehicle mufflers, exhaust systems and roof racks at Thames, is one of the companies in- ' volved in the share sale which gave Challenge Corporation, Ltd, an interest in the Campbell Motors group. Mr Bedford, a brother of the man who helped found Campbell Motors in the

early 1920’5, has been chiefly involved with the two Campbell companies at Thames — Campbell Tube, and Campbell Industries, which assembles Toyota, Renault, and Peugeot vehicles. The directors of Campbell Tube are Mr Bedford, his nephew, Mr V. H. Bedford, Mr J. E. Louden, Mr C. J. Buchanan, and Mr B. D. Webster, who is also chair-

man. In the latest annual return filed by Campbell Tube, each Bedford is shown as holding about 10 per cent of the capital. Just under 50 per

i cent was held by Campbell j Motors, with the remaining c 30 per cent held by 13 other • shareholders, mostly mem- • bers of the Webster family. ’ Challenge Corporation " confirmed today that it had , acquired a “minority inter l 5 est” in Campbell Motors. , Neither company could say . exactly how many shares . had changed hands, or on ■ what terms.

The Campbell Motors group would continue to operate as an independent enterprise, according to a statement issued by both parties.