PERPETUAL FORESTS
The first cash distribution to shareholders of New Zealand Perpetual Forests Limited (in liquidation) has resulted in the payment by the liquidators of £197,536, this amount being equivalent to the paid capital of the company. Further- distributions wjll be made as sums are collected from the various debtors.
Distribution was delayed, pending the settlement of a claim by the Taupo Totara Timber Co., Ltd., but .the Supreme Court has recently approved a recommendation of the shareholders that a cash payment of £51,250' should be made out of the assets of the company to the Taupo Totara Company in settlement of the claim which arose from the purchase of land in 1925.
In the balance-sheet of Perpetual Forests as at March 31; last it was ■shown that there was a surplus of assets over paid capital and outside liabilities of £129,061.
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https://paperspast.natlib.govt.nz/newspapers/EP19410215.2.33
Bibliographic details
Evening Post, Volume CXXXI, Issue 39, 15 February 1941, Page 8
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142PERPETUAL FORESTS Evening Post, Volume CXXXI, Issue 39, 15 February 1941, Page 8
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