TIRIMOANA DAIRY COMPANY.

Hawera Star, Volume XLVI, 14 March 1927, Page 10

TIRIMOANA DAIRY COMPANY.

DISPUTE OVER SHARES. Reserved judgment in the action heard at the last .session of the Supreme Court in which several shareholders of the Tiiirimoana Dairy Company (in liquidation) petitioned to have their names .removed from the list of contrimutories, has been delivered by Mr. Justice Ofstler. His Honour deals with the petitioners separately as follows: J am satisfied from the evidence that none of the subscribers had any intention of taking shares in addition to those which they knew they would have to take under the articles, iand that when the first allotment was made it was intended in the case of subscribers to be of the shares for. which they had subscribed. So far as Boot ton, Raldock, Foy and Jordan are concerned, they were- allotted greater number of shares than the number for which they subscribed the memorandum. It was the intention at the time that shares allotted should include the shares subscribed for and the share® in the company’s register in their name must bo taken to- include their subscribers’ shares. They are therefore entitled to an order for the removal of their names front the list of contributories in respect of their subscribers’ shares. Mr. Treweek can only be left on the list of contributories in respect of six subscribers’ shares. But with regard to these six shares it was Mr. Treweek’s duty as a director of the company to see that he was registered ias the holder of 60 shares, and he must remain on the list in respect, of the six shares which lie neglected to have registered in his name. With regard to McWhirter, I consider that- the liquidator was justified in putting Mrs. McWhirter on the list of contributories in respect of the 100 shares she isubscribed for, I can see no escape from the conclusion, that Mrs. McWhirter’s name must be placed on the list in respect of the 100 shares for which she subscribed. This summons must accordingly be dismissed with £3 3s costs and disbursemen ts.

With regard to the five other summonses there will be orders as indicated. As they are issued by one solicitor I allow an inclusive fee of £l2 12s and disbursements on the five summonses.