A COMPANY MATTER

Evening Post, Volume CV, Issue 122, 25 May 1928, Page 11

A COMPANY MATTER

VALIDITY OF MBMBERSHIP An application was mado before Mr. Justice Ostler in the Supreme Cpurt today by William Smith Mac Gibbon, public accountant, of Christchiu-ch, for an order that the A list of contributaries of E. Harding and Co., Ltd. (in liquidation), general merchants, Wellington, and tho certificate of the liquidatpr finally settling the ; same' should; bo, varied by the exclusion Of his name. Mr. W. J. Sim, who ■•appeared in support of tho application, contended- that Mac Gibbon was never- a member of the company, becauso, although ho signed the articles of association, yet before registration of'those articles, he had withdrawn his namo by letter.. Further, Mr.' Sim submitted, that if that bo not bo, then he had transferred his shares to another person, and the company had either accepted" that"transfer or ought to have accepted it. , Mr. F. C. Spratt, wno appeared to oppose, submitted that'even if MacGibbon had withdrawn, his inamo he had afterwards, ratified/the use' of it by acting as a director and later by-transfer-ring the shares, so that he could only escape on Mr.. Sim's second.point. Li regard to that, counsel contended that Mac Gibbon was guilty of delay in not seeing that the transfer was carried through, and he could not complain of allegod irrogularitWß^by, jXa. directorate, seeing that'he was aidi'rcQion ■ ~'\ ■■" (Proceeding.)