ALLEGED BREACH OF TRUST.
IMPORTANT SUIT IN EQUITY COURT. (United Press Association—By Elecfcrte Telegraph—Copyright.) (Received August 28, 8.45 p.m.) SYDNEY, August 26. Commercial circles are interested in the equity suit in which judgment was delivered to-day, the defendant being George Alan Bond, formerly govern-ing-director of the George A. Bond Company, Limited, hosiery manufacturers, in liquidation. The Court was asked to declare that defendant committed a breach of trust by drawing salary, expenses and commission far in excess of what the shareholders agreed he should draw. The liquidators contended that Bond’s salary was fixed by resolution at £4BOO, whereas Bond had drawn at the rate of £IO,OOO. The Court granted the decree, and directed that Bond should refund a substantial portion of salary, travelling expenses and other charges amounting it is estimated to about £IOO,OOO. Bond was ordered to pay the costs of the decree.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18354, 27 August 1929, Page 9
Word Count
144ALLEGED BREACH OF TRUST. Timaru Herald, Volume CXXV, Issue 18354, 27 August 1929, Page 9
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