COMPANY SMASH
Shareholders given time to N PAY. By Telegraph—Press Association—Copyriebt London, Juno 19. Sir C. S. Eady, Judge of the Chancery Division of the High Court, has varied his order calling upon tho shareholders of the Law, Guarantee, Trust, and Accident Society to pay a further call cf .£5 per share in connection with tho liquidation of tho concern. The shareholders are to bo allowed to pay the call by instalments. [The Society went into voluntary liquidation in consequence of sensational losses on brewery and hotel property, through an unsound system of guaranteeing mortgages and debentures. Tho . paid-up capital amounts to JM50,000, and is divided into «£lO shares, £1 only having been paid up, leaving a further liability at the timo of liquidation of £9 per share. The majority of th 6 shareholders aro barristers aud their clerks, and it is stated that if called upon to pay up on their shares many of them will be forced into bankruptcy. The liabilities of the Society, total £1,500,000.]
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https://paperspast.natlib.govt.nz/newspapers/DOM19100621.2.30
Bibliographic details
Dominion, Volume 3, Issue 848, 21 June 1910, Page 5
Word Count
168COMPANY SMASH Dominion, Volume 3, Issue 848, 21 June 1910, Page 5
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