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Rthmns stalled again

PA Auckland Rainbow Corporation, Ltd, has stalled for a second time the attempt by Rothmans Industries, Ltd, to gain shareholder approval to sell its tobacco interests to Rothmans Australia. Minutes before Rothmans shareholders were to have met yesterday to consider the proposal, a High Court injunction was granted to Rainbow, stopping the business from being considered. In a decision which took him more than three hours to deliver, Mr Justice Chilwell found in favour of Rainbow on each of its three main points.

The judge began to deliver his decision at 2.15 p.m., while shareholders were already gathering for the 2.30 meeting. Rothmans’ chairman, Mr T. N. Johnston, adjourned the meeting until August 8.

Mr Justice Chilwell found that no contract existed between Rothmans Industries and Rothmans Australia regarding sale of the tobacco nterests.

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19860716.2.130.7

Bibliographic details

Press, 16 July 1986, Page 33

Word Count
137

Rthmns stalled again Press, 16 July 1986, Page 33

Rthmns stalled again Press, 16 July 1986, Page 33

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