INVESTMENT TRUST

New Zealand Herald, Volume LXXII, Issue 22269, 18 November 1935, Page 7

INVESTMENT TRUST

PERMISSION FOR MEETING COURT ORDER SOUGHT An application will bo before a Judge of the Supremo Court in Wellington to-morrow for permission to Convene a meeting of debenture-holders in tho Investment Executive Trust of New Zealand (in liquidation). The application will be made on behalf of William Henry Brncey, fanner, of Avondale, Auckland, who claims to bo a creditor of the company. An order will bo sought giving the applicant liberty to convene a meeting of the debenture holders for the purpose and, if thought fit, approving with or without modification a scheme or arrangement proposed by him between tho trust company, its liquidator (the Public Trustee) and the debenture holders. " ■ Directions will also be Bought as to the method of convening the meeting, and its conduct. In particular, directions will be sought as to the right of the debenture holders (including the Public Trustee as liquidator under the Companies Special Liquidations Act, 1934-35) to vote at the meeting in person or by proxy. It is suggested that the Public Trustee should be appointed chairman of the meeting, and that he should report the result of the meeting to the Court, which will then be asked to make a further order. t Mr. H. P. Richmond will represent tho applicant and Mr. E. P. Hay the Public Trustee when the matter is mentioned to-morrow.