APPEAL ALLOWED

Otago Daily Times, Issue 23327, 20 October 1937, Page 5

APPEAL ALLOWED

SHARE TRANSFER CASE Judgment has been given by Mr Justice Kennedy in the case in which the M'Arthur Trust, Ltd., appealed against an order made by Mr W. H. Freeman, S.M., on November 30, 1936, declaring void the transfer to the M'Arthur Trust of debentures owned by four Southland persons in the Executive Investment Trust. The appeal, which was lodged by Messrs Bamett and Murdoch, of Dunedin, was allowed on the grounds that the conviction of Harold Calvert on a charge of sharehawking had been set aside. The judgment states:— ' „ • . The appeal by Harold Calvert against his conviction upon a charge of going from house to house offering shares for subscription, to wit, shares in the M'Arthur Trust, Ltd., during the months of July and August, 1935, at Riverton and elsewhere in New Zealand to certain members of the public, namely, debenture holders in the Investment Executive Trust of New Zealand, Ltd.—James Fleck, Mary Fleck Margaret Bain, James Alan Thompson. Gwendoline Hamilton, Gustave Tapper, Miss Asher and Miss Lousley—has been allowed and the conviction has been set aside. The order and consequential directions made and given by the magistrate in these proceedings under section 343 (8) of the Companies Act. 1933, must accordingly be vacated and the order made and the consequential directions given by the magistrate on November 30, 1936, are cancelled and the appeal is allowed accordingly. The respondent, John Albert Colin Mackenzie, will pay the appellant for costs on the appeal the sum of £ls 15s with witness's expenses and disbursements to be fixed by the registrar and in lieu of the order for costs made by the magistrate on the hearing of the application the respondent will pay the appellant the sum of £5 5s for costs.