"BIRDS OF PREY"
FAT FOOD FOR UNDERWRITERS LONDON, Nov, 25. “Where the carcase is will also be the birds of prey gathered together,” said Lord Justice &ir Thomas Smitten, presiding in the Appeal Court in a case about an underwriting contract. He added that promoters, underwriters and sub-underwriters took, all they could from the new company, when the directors should have protected it, "This is merely a bad example of what has been going on in the City of London in the past four years during the boom, when underwriters and sub-underwriters took much public, money for no particular services,” he said. Lord Justice Scrutton said that some sub-underwriting arrangements were ridiculous. They included a man who sub-underwrote £55,000 after he had begn successfully, sued for £ls.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17126, 5 December 1929, Page 13
Word Count
127"BIRDS OF PREY" Poverty Bay Herald, Volume LV, Issue 17126, 5 December 1929, Page 13
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