A LENGTHY CASE
ACTION BY SHAREHOLDERS.
DECISION RESERVED.
(Per United Press Association.) Auckland, June 15.
After a hearing lasting 15J days, the case has concluded in the Supreme Court in which 49 shareholders in Speedwell Oil Company (N.Z.) Ltd. claimed £4633 from Harry Clinton McElwain, former director of the company. Plaintiffs alleged that the representations in the prospectus of the company were untrue and the company did not obtain the full minimum subscription of £6OOO within 90 days as provided in the prospectus. The defence was a general denial of the allegations. Judgment was reserved.
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Bibliographic details
Southland Times, Issue 22043, 16 June 1933, Page 8
Word Count
95A LENGTHY CASE Southland Times, Issue 22043, 16 June 1933, Page 8
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