CABLE NEWS
MCINNES AND CO.
COMMENT BY JUDGE
LIQUIDATION DISPUTE
United Tress Association—By Electric Tel»erapb—Copyright. (Received March 20, 2 p.m.) CANBERRA, This Day. Dismissing the summons in a case in /hich V. B. Mclnnes sought an order hat the Public Trustee, as liquidator f Mclnnes and Company, should subtitute the applicant's name as a lOider of 80,000 fully paid-up shares intead of 80,000 on which no amount ad been paid, Mr. Justice Lukin, in he Supreme Court of the Australian :apital Territory, said that Mclnnes ras. at one time the holder of 990 ully paid-up shares out of 1000 £1 hares in the New Zealand company f Mclnnes and Company. His- case sras that the Canberra company of /Iclnnes and Company purchased these hares for £20,000, part of which was o be appropriated to the payment of he 80,000 shares in question. When asked what were the asset 3 if his company, Mclnnes answered that le did not know. " ,_.. Mr. Justice Lukin held that the debt if £20,000 was not, either in part or n whole, a bona fide one, but was one vhich was sought to be brought into ixistence by Mclnnes through the Canberra company to carry into effect in impudent victimisation of the sharelolders in that company.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19370320.2.92
Bibliographic details
Evening Post, Volume CXXIII, Issue 67, 20 March 1937, Page 10
Word Count
210CABLE NEWS Evening Post, Volume CXXIII, Issue 67, 20 March 1937, Page 10
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