REDWOOD FORESTS
COURT ACTION COMPLETED JUDGE RESERVES DECISION Further legal argument was heard in tho Supreme Court yesterday in the dispute over a mortgage for £7500 given in April, 1931, by New Zealand Redwood Forests, Limited, to Kotahi Lands, Limited. Action was taken on behalf of Redwood debenture-holders by Mr. Barrowclough and Mr. Gray, who sought to have the mortgage declared invalid. This was opposed by Sterling Investments Company (New Zealand), Limited, iai liquidation, and Wynwood Investments, Limited (Mr. J. B. Johnston and Mr. Drunamond) and by the National Investment Company of Queensland, Proprietary, Limited (Mr. Richmond and Mr. Wiseman). Mr. Barrowclough submitted further argument in support of his contention that the missing deed of covenant between the Redwood and Edgecumbe companies had never been executed, and that there was no prior equity in favour of the Edgecumbe Company in the mortgage over the Matahina 2000acro block. After Mr. Johnston and Mr. Bichmond had replied, Mr. Justice Fair said he would take time to consider the questions raised, which ho would answer in an interim judgment.
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New Zealand Herald, Volume LXXIII, Issue 22539, 2 October 1936, Page 14
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176REDWOOD FORESTS New Zealand Herald, Volume LXXIII, Issue 22539, 2 October 1936, Page 14
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