Cascade no more
PA Auckland Cascade Exploration Co has been wound up after a petition to the High Court in Auckland by the Registrar of Companies. The company, headed by Roger William Blair, sought funds from the public to embark on a charcoal venture in Northland using new technology.
Advertisements in Auckland papers attracted the attention of the Securities Commission, which eventually banned the advertisements.
Mr Mark Woolford, a solicitor with Meredith Connell, acted for the registrar and the Justice Department in Investigating Cascade. The action to wind up the company came after a Justice Department inquiry that showed Cascade to be insolvent, although still trading, Mr Woolford said yesterday. An audit of the company’s accounts was not possible, because proper records had not been kept, he said. He said he believed little money was at risk because of the court action.
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Bibliographic details
Press, 9 December 1988, Page 21
Word Count
142Cascade no more Press, 9 December 1988, Page 21
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