THE MIDLAND RAILWAY
DECISION OF THE COURT OP APPEAL. [From Our Correspondent.] WELLINGTON, May 25. In the Appeal Court, in the case of the Midland Railway Company tbe Court ruled that there was nothing in the agreement between the Government and the company overriding the right of the Crown to complete the work in the event of the company’s default in doing so, and to enforce the forfeiture of tbe company’s interests in case the latter failed to recoup the expense involved in such completion by the Government. Regarding the debenture holders’ claim to have a first charge against the company’s assets it was ruled that the lender of the money to complete the work stood in no better position than the original lender. The appeal was dismissed with costs against the Midland Railway Company. An appeal was granted to the Privy Council, with stay of execution.
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Lyttelton Times, Volume CI, Issue 11901, 26 May 1899, Page 5
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147THE MIDLAND RAILWAY Lyttelton Times, Volume CI, Issue 11901, 26 May 1899, Page 5
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