PURCHASE OF SHARES

Otago Daily Times, Issue 22903, 10 June 1936, Page 10

PURCHASE OF SHARES

CLAIM AGAINST AGENT VERDICT FOR PLAINTIFF COMPANY (Peu United Press Association) AUCKLAND, June 9, Judgment for the plaintiff company, for £lß9l, less an amount to be allowed by the registrar to be deducted in accordance with principles indicated by his Honor, was given by Mr Justice Ostler in a reserved decision in the Supreme Court to-day in an action brought by the Transport Mutual and General Insurance Company, Ltd. (in liquidation), against Cyril Ernie Richard Webber, agent, of Dunedin. The action was brought by the Public Trustee as statutory liquidator of the plaintiff company against the defendant for the recovery of amounts totalling £lß9l, with interest. It involved a dispute over the terms on which the defendant was employed by the plaintiff to purchase shares in certain other companies. The plaintiff company is one of a group of companies for the formation of which J. W. S. M'Arthur and certain business associates in Auckland were responsible, and which, l>y_ the Companies (Special . Liquidation) Act, 1034-,To, were ordered to be wound up by the court, the Public Trustee being appointed liquidator under that Act.