MOTION FOR ORDER OF PROSECUTION.

Otago Witness, Issue 2295, 24 February 1898, Page 25

MOTION FOR ORDER OF PROSECUTION.

At a sitting in Caanabera, before his Honor Mr Justice Williams, on Friday, there was called on lie the J. G Ward Fanners' Association (Limited), a summons by the eontnbutosrics for an order directing the liquidator to prosecute the Hon. J. G-. Ward and John Fisher. Mr W. C. MacGrtgoL' appeared for ttu petitioners (Mr Fiemiutf and others;, and Mr Woodhouee for the official assignee. Mr J. A. Cook said he had intended to ask leave to appear on bshalf of creditors, but after the statement that had beea made as to the assets it did not seem as though the outside creditors had any interests to protect. Mr Woodhouee asked if the liquidators of the Colonial Bank were represented. Mr MacGregor : No. Mr Woodhonse thought that notice should have been served on them, and that they should be present. His Honor said he thought the Colonial Bank liquidators certainly ought to be rep.esinted, because il had been shown that if there was to be a prosecution it was out of their money it would have to bs paid for. As there w«-ro no surplus asaets, they were tha only people who wore pecuniarily interested in it now. Mr Cook considered that if the Pquidators' estimate was right, there was no reason why they should waste more tim° over ifc. It was a surprise fco the' creditors that this should be so, for it had always been understood there would be something. Ib had been reported there would be a substantial dividend. H-s Honor said that from the estimate submitted by Mr Cook in June, 1896, one would have supposed on the tace of ifc that there would be a dividend, but that was explp-ined by the circumstance ot the overdue biJls. H<i thought the matter hud better stand over till there had been notice served on the liquidators of the Colonial Bank. Mr Brent said the liquidators of the Colonial Bank would object to the aesets being saddled with, any expenses. Mr MacGivgor was of opinion they might readily lake that fo? granted a!tsr the action of the liquidators that day. Hi? Honor remarked that some affidavits had been filed. Mr MacGreger said the affidavits had been filfld at the eleventh hour. Mr Brent iutimalei that the liquidators would at once accept serv ioe if that would facilitate matters. His Honor remarked that Mi 1 MacGcregor would want an opportunity to answer ttie affidavits that had been filed. Mr MacG-regor said it might be they would have to indemnify the liquidator against the costs of the prosecution. His Honor direct ed that the matter Bhould stand over until Friday next. A notice of withdrawal had been filed as follows : — We, the undersigned, James Young (of Wright's Bush, in Southland, New - Zealand, farmer), Adam Drvsdale (of Myross Bnsh, farmer), aud Thomas Kirkpatrick (of Wairio, in Wallace), do hereby give notice of our intention to withdraw from all proceedings herein instituted by petition upon the grounds: (1) That our names were attatched to the said petition under a misconception of fact. (2) That we are of opinion that any such prosecution as- is vow asked for would result iv an expenditure of assets and would be fruitless in its results. Other affidavits were filed in the court, bub as the proceedings were adjouraed in order to permit of thest* being aasvrercd, v;e do not publish them iv the meantime.