DEBENTURE TRANSFERS

Hawera Star, Volume LIV, 18 September 1934, Page 6

DEBENTURE TRANSFERS

Company Promoter Questioned |>y Sydney Commission

NOW ORDINARY CREDITOR NO CAUSE FOB DISPUTE (United Press Association —By Electric Telegraph Copyright) Received 2.30 p.ia. to-day. SYDNEY, Sept. 18. At the Companies Commission to-day McArthur outlined a. series pf share and debenture transfers, stating that a S a result thereof, he now appeared as an ordinary creditor on the British National Trust books. Mf W, Monahan, K.C. (counsel to the commission): That matter was the cause of a dispute between you and Hewitt? McArthur: Nonsense. We have never had a dispute. Mr Monahan: Hewitt said you wanted priority over shareholders, and that he insisted on your coming after the debenture-holders. . McArthur: I don’t believe he said that! X had no intention of being a creditor of Sterling and told Hewitt so. Mr Monahan: I have no doubt it ended in the usual way— McArthur’s will prevailed;