THAMES LOANS REPAYMENT
DECISION FOR BOND-HOLDERS.
JUDGE OPPOSES POOLING METHOD.
By Telegraph—Press Association. Wellington, Last Night.
Mr. Justice MacGregor decided in the Supreme Court to-day against the Public Trustee and in favour of the holders of Thames borough debentures in regard to a difference of opinion on the method to be adopted in the repayment by sinking funds. His Honour said it was clear that if he adopted the pooling method the result would be startling and very unwise in some cases. He thought the instalments that had been raised were distinct loans, and for that reason adopted the individual system in preference to the pooling method. The pooling method would work an injustice; the individual method would not.
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Bibliographic details
Taranaki Daily News, 7 March 1934, Page 7
Word Count
119THAMES LOANS REPAYMENT Taranaki Daily News, 7 March 1934, Page 7
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