TO SIDESTEP EXCHANGE
Power Board’s Dicision TEST CASE TO LONDON. (Per Press Association). INVERCARGILL, June 13. The Southland Electric Power Board to-day decided to undertake a test case in the King’s Bench Division, London, to ascertain whether it cam make interest payments on its London loans, in New Zealand, currency. Tn the event of the Board succeeding, it will be freed from tho expense of the present exchange rate of 25 per cent. The legality of such action had been considered by the Board previously, and it wa-s at tho request of the Alinister of Finance that the decision to undertake a case w r as reached. It is understood that Sir Gerald Hurst, K.C., will represent the Board.
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Bibliographic details
Grey River Argus, 14 June 1933, Page 5
Word Count
119TO SIDESTEP EXCHANGE Grey River Argus, 14 June 1933, Page 5
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