COMPANY FAILURE
LORD BARNBY AS HEAD # ARRANGEMENT WITH CREDITORS. LONDON. June 19 The Daily Express states that Lord Barnby, head of the firm of Francis Willey and Company, which failed in February, has entered into a deed of arrangement with the creditors, who include the Inland Revenue Department, and various banks and trading concerns. * Lord Barnby estimates the gross value of his property at £461,345 and the value of securities held by creditors at £364,580. The gross amount of the company's liabilities is estimated at £683,028, leaving a net liability of £318,448. ' Also there are estimated liabilities of £1,415,505 in respect to guarantees partly covered* by security which does not form part of the estate and in respect to which there is right to recourse against the principal debtors.
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Bibliographic details
New Zealand Herald, Volume LXXII, Issue 22141, 21 June 1935, Page 11
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129COMPANY FAILURE New Zealand Herald, Volume LXXII, Issue 22141, 21 June 1935, Page 11
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