Forestry Bondholders
[Per Press Association. Copyright'.] AUCKLAND, This Day. At a meeting of the Forestry Bondholders’ Commission this morning with representatives of bondholders and the issuing company, Mr J. S. Barton, presiding, the commission announced its decision to approve of terms satisfactory to both parties for compounding the maintenance of the contract between the New Zealand Perpetual Forests, Ltd, and New Zealand Forest Products, Ltd.
The position now is that the Forest Products, Ltd., will shortly obtain legal possession of forests and transfer of cash investments and assets, valued at approximately £1,300.000, which Forest Products. Ltd., is entitled to receive from Perpetual Forests, Ltd., in discharge of that company's obligations to bondholders to plant and maintain forests.
Mr C. A. Wilkinson, M.P. for Egmont, left by the express for Auckland at mid-day to-day, after conducting addresses at Maungatapere and Waipu
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Bibliographic details
Northern Advocate, 30 August 1938, Page 8
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140Forestry Bondholders Northern Advocate, 30 August 1938, Page 8
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