PROCEEDINGS AGAINST DIRECTORS.
[Pie Pbess Association.] . MASTERTON, June 30. The hearing of a petition against the 'directors of D. Henderson and Co., in liquidation, in which the petitioners sought to show that there had been misfeasance and culpable neglect, was concluded in the District Court last evening. Judge Kettle dismissed the charges against the directors, remarking that while the proceedings-taken by them were unbusinesslike and illegal, their action throughout was honest. With regard to the second part of the case, in which C. E. Daniell, while manager and director, is charged with a breach of trust in purchasing the company’s property, his Honor reserved his decision. The chief point was that Daniell purchased, not from the company, but from tbe mortgagee, who foreclosed, Daniell acting in a perfectly bona fide and open manner. In reserving judgment, Judge Keotle said that he thought he ought at ouce to state that there was not a suspicion of fraud or dishonesty in Daniell’s action in the matter.,.
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Bibliographic details
Lyttelton Times, Volume CIII, Issue 12243, 2 July 1900, Page 2
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164PROCEEDINGS AGAINST DIRECTORS. Lyttelton Times, Volume CIII, Issue 12243, 2 July 1900, Page 2
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