LOAN AND MERCANTILE.
THREATENED LITIGATION. PROPOSAL TO CALL UP CAPITAL. Press Association.—Electric Telegraph.—Copyright. London, July 21. It is likely that litigation will be resorted to to decide w hether the £ 1,800,000 worth of debentures of the New Zealand Loan and Mercantile Agency Company (Limited), not converted into debenture stock, will have a first charge on the uncalled -up capital, with £1,300,000 of converted debentures. It has been found impossible to frame a scheme of re-construction until Mr. Young lias completed his examination of the company's affairs. Mr. Justice Williams has granted an order for compulsory winding up, and in doing so expressed a hope that a more detailed statement of the assets would be made.
The Loan and Mercantile directors propose to call up an additional million capital from shareholders, and make terminable debentures permanent.
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Bibliographic details
New Zealand Herald, Volume XXX, Issue 9260, 24 July 1893, Page 5
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135LOAN AND MERCANTILE. New Zealand Herald, Volume XXX, Issue 9260, 24 July 1893, Page 5
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