COMPANY WOUND UP
OVERSEAS SALES AGENCY,
(II miOKAPI.—PXIII ASSOCIATION.)
AUCKLAND, 9th September At the Supreme Court, the Bank of New South Wales petitioned for the compulsory winding up of the Overseas Sales Agency, Ltd., Auckland. The liabilities were stated to be £75,000 and the assets £7000. It was alleged that the company was indebted to the bank for £37,232 in respect of a bill of exchange accepted by the company, and which had been dishonoured since 20th August, 1921! It wag further alleged that the only two shareholders of the. company were. Robert' Frederick Wilson, formerly of Auckland, i merchant, and Daisy Wilson, his wife. These two shareholders, at Sydney, held ; a meeting on 10th/ August, 1920, and ; passed a resolution to wind up voluntarily, which, the petitioners contended, was not in the interests of the whole of the creditors. ■ Mr. Justice Adams made an order winding up the company on the ground . that it could not pay ito debts. He stated that the withdrawal of the charges of fraud was only for the purpose of , the petition and not an admission that, there was no fraud.
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Bibliographic details
Evening Post, Volume CII, Issue 62, 10 September 1921, Page 9
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187COMPANY WOUND UP Evening Post, Volume CII, Issue 62, 10 September 1921, Page 9
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