A POINT IN COMPANY LIQUIDATION.
(PKR press association.) Reefton, March 11. An interesting point has been raised in the District Court. In winding up the Golden Hill Company it appears a call was made by the Directors, a number of whom vacated office by non-payment of calls. A number of the shareholders, including Borne of tho Directors, did not pay this call, and the shares became forfeited. It is now contended by some of the contributors that the call was invalid, therefore the shares are not forfeited. It transpired during the hearing that the names of these holders of so-called forfeited shares had not been removed from the register until after the winding-up order was made. The Judge ordered the liquidator to prepare fresh lists, and said the names of all persons who were on the register at the date of lodging the petition must appear as contributors, or show why they should be taken off. The decision affects a considerable number of persona who fancied they had escaped contribution. The eventual outcome of the cases is looked for with considerable interest. The Judge has adjourned the further hearing until next sitting.
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https://paperspast.natlib.govt.nz/newspapers/NZMAIL18910313.2.49
Bibliographic details
New Zealand Mail, Issue 993, 13 March 1891, Page 16
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192A POINT IN COMPANY LIQUIDATION. New Zealand Mail, Issue 993, 13 March 1891, Page 16
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