COMPANY LIQUIDATORS
PAYMENT OF SALES TAX AN INTERESTING DECISION ‘Her United Press Association) WELLINGTON, Dec. 8. A question of interest to company liquidators was decided in the Supreme Court when the Chief Justice (Sir Michael Myers), in a reserved judgment, held that the Comptroller of Customs, as representing the Crown, was entitled to receive payment in full of sales tax out of moneys set aside under section 27 of the Sales Tax Act. 19321933. The court was asked whether the liquidator having set aside a sum of £BS 8s 5d as required by section 27 of the Act in respect of sales tax owing by the company at the commencement of winding-up, and the company’s assets being insufficient to pay all debts in full, the Comptroller of Customs, as representing the Crown, was entitled to receive payment in full of the sales tax so owing, or whether in respect of the sales tax the Comptroller of Customs should rank with, or subsequent to, any (and if so, what) classes of creditors.
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Otago Daily Times, Issue 23370, 9 December 1937, Page 12
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171COMPANY LIQUIDATORS Otago Daily Times, Issue 23370, 9 December 1937, Page 12
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