WRESTLING TUITION

Evening Post, Volume CXV, Issue 124, 29 May 1933, Page 12

WRESTLING TUITION

COMPANY WOUND UP

(By Telegraph.—Press Association.) AUCKLAND. May 28. The affairs of an Auckland company with a registered capital of only £3 were investigated in the Supreme, Court yesterday when George Walker, of Auckland, professional wrestler (Mr. Ready) made an application for an order to wind up Controls, Limited, of Auckland, merchants (Mr. Hogben). Mr. Ready stated that the company had already gone into voluntary liquidation, but it'was desired to have its affairs dealt with by the Official Assignee as a receiver appointed by the Court. Mr. Ready said the company was formed to sell courses in wrestling tuition. The sum of £1700 had passed through its hands. The petitioning creditor, Walker, was to have been paid 15s for each, course sold, and ttie compdiiy now owed him £200, of wliich he had not received a penny. "I think you are entitled to an order unless the company can show that its proceedings in going into voluntary liquidation were bona fide," said his Honour, who suggested that the hearing of the application should be adjourned for a short time to enable counsel to confer. "We have arrived at an agreement," said Air. Hogben, on resumption. "The question was which method of winding up was most advantageous to both pai'ties. We have agreed to the company being wound up by an order of the Court. The liquidation will not be compulsory, but will bo under the supervision of a liquidator to be appointed by the Court." After Mr. Hogben had suggested Mr. F. C. Buddie as liquidator and Mr. Ready had agreed to his appointment in place of the receiver appointed by the company, his Honour made an order by consent, costs . being allowed the petitioning creditor. *