OSWALD M. SMITH AND COMPANY

Otago Daily Times, Issue 22562, 4 May 1935, Page 5

OSWALD M. SMITH AND COMPANY

SUBSIDIARY COMPANIES ORDERS FOR WINDING UP v GRANTED Two petitions for the winding up of subsidiary companies of Oswald M. Smith and Co., Ltd. (in liquidation), were granted in the Supreme Court yesterday yiorning by Mr Justice Kennedy. The first was a petition for the winding up of the Crystal Manufacturing Company, Ltd., on the application of the official liquidator of Oswald M. Smith and Co., Ltd. The petitioner was represented by Mr J. M. Paterson, who said that a windingup order had been granted in the case of Oswald M. Smith and Co., Ltd. The petition was in respect to a subsidiary company which went out at the same time as the assets of Oswald M. Smith and' Co., Ltd., were seized by the debenture-holder, and the petition was a formality completing the winding up. The two companies had_ been working in a peculiarly interlocked way, and an- amount of £4131 17s 7d, representing a goods account and services rendered, was owing to Oswald M. Smith and Co., Ltd. , His Honor made an order that the Crystal Manufacturing Company, Ltd., be wound up by the court under the provisions of the Companys Act, 1930. A similar petition was heard in respect of Hatton’s Confectionery Company, L< Mr Paterson said the circumstances were identical with those of the other subsidiary company. The amount ot the indebtedness was £6197 12s 7d for goods supplied and services rendered. < This Company had also ceased to function. An order was granted that the company be wound up by the court under the provisions of the Companies Act,