FEDERAL PORTLAND CEMENT COMPANY.
DISTRIBUTION OF ASSETS.
[BY TELEGRAPH.— I'BF.SS ASSOCIATION.]
Duxedix, Friday. Ix the Supreme Court to-day Mr. Justice Williams gave judgment in the case of the Federal Portland Cometit Company, a summons by the liquidator for dire! as to distribution of assets. The facts were, that the company was wound up voluntarily, The assets have been realised, and the debts paid, and the sum of £1469 Is 61 i.- in the hands of the liquidators. The question was how this sum should be distributed amongst the different classes of shareholders. His Honor decided that there was only one fund to he divided—that the, fund so far as paid-up shareholders were concerned was the amount now in the hands of (ho liquidators. They were entitled to a certain portion of it, am! the other shareholders had also right- to a certain proportion of the same fund. Unless there were two fund?., distribution must he in the proportion to the capital already paid no, and there was only one fund.
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Bibliographic details
New Zealand Herald, Volume XLII, Issue 12955, 26 August 1905, Page 6
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170FEDERAL PORTLAND CEMENT COMPANY. New Zealand Herald, Volume XLII, Issue 12955, 26 August 1905, Page 6
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