THE COMPANIES ACT.

Lyttelton Times, Volume CXIV, Issue 16193, 20 March 1913, Page 3

THE COMPANIES ACT.

A DEFECT. [Pep. Press Association.] WELLINGTON, March 19. Tho affairs of Norrow and Co., mail order agents, were further inquired into yesterday by the official assignee. A statement was received from the official assignee in Sydney giving details of an investigation of the company’s affairs there. The estate there was sequestrated in June, 1912. The liabilities amounted to £1547, and assets -to £336. The official assignee here stated that he had approached the Justice Department to have Rowe, the Wellington manager and a partner, brought back; but so far nothing had been done. A creditor here remarked: “ I will spend up to £SO to bring the men back.” The assignee said nothing could be done without an order of the Court. That was the worst of tho Companies Act. He had recently wound up a small company, and it had cost £BOO in expenses. It could have been done for £lO under the Bankruptcy Act. It was finally resolved, “ That the Justice Department should be nsked to take the case up, seeing that at least ninety-six people had been swindled out of their money, and ono thousand seven hundred aiid thirty-seven persons had paid deposits on goods and they had received neither goods nor deposits back.”