Harley auction to go ahead today

Press, 4 July 1978, Page 1

Harley auction to go ahead today

The mortgagee auction of the Harley Chambers building, in Cambridge Terrace, will go ahead today, and according to the auctioneer the building will definitely be sold. A petition to wind up the company which owns the building, Harley Chambers, Ltd, was further adjourned by Mr Justice Casey in the Supreme Court yesterday. Subsequent inquiries by “The Press” indicate that confusion has arisen about whether • this adjournment will affect the sale. It does not.

Mr Justice Casey's decision was to adjourn to July 19 the petition to wind up Harley Chambers and also another associated company, Lodge Inns, Ltd. Today’s auction of the Harley building is under the direction of the Registrar of the Supreme Court, and on the application of the second mortgagee, New Zealand Insurance Finance, Ltd. The auctioner, Mr C. M. Robertson, said last evening that his instructions from the mortgagee’s solicitors still stood, and

that the sale would be held. "The property will be sold,” he said. “The mortgagee will take it at the upset price anyway, but we also have three other prospective purchasers, and I am confident that we will be able to sell to one of these above the upset figure.” Harley Chambers tried to sell the property at auction last May in an attempt to clear some of its debts, but bidding failed to reach the reserve price the company had put on the building.