THE BRUNNER CASES.
- 'POSITION OF THE DEBENTURE ~ HOLDERS. • . TFke Press Association.] •. , *; WELLINGTON, April 19. c ln .Consequence of the judgment of the Supreme Court in the Brunner cases, steps have already been taken by the debenture hifla.ers “'to protect their interests. The Greymouth—Point Elizabeth Company’s capital is chiefly debenture capital, secured by a first mortgage on the property, and Messrs Bell, Gully and Bell, acting on behalf of the mortgagees, have put Mr Pilcher, the |secretary of the company, in possession of ■the property. 1 • Further instructions are ibeing awaited from England, where Mr M’Dougalli the general manager, now is. some time ago for the purpose of the company and securing further capital, but the negotiations wete' interrupted to await the issue of the actions just decided. The question practically is whether the property is ■worth* the amount given in judgment against -the company. Tho point will probably he argued at the Court of Appeal in the coming session, whether the plaintiffs.in. the actions can step in before the-: debenture holders to satisfy the judgment: '
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/LT18980420.2.33
Bibliographic details
Lyttelton Times, Volume XCIX, Issue 11558, 20 April 1898, Page 6
Word Count
175THE BRUNNER CASES. Lyttelton Times, Volume XCIX, Issue 11558, 20 April 1898, Page 6
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in