EXCHANGE ON LONDON LOANS
TEST CASE TO BE UNDERTAKEN. By Telegraph—Press Association INVERCARGILL. June 13. The Southland Electric Power Board to-day decided to undertake a test case in the King's Bench Division, London, to ascertain whether it can make interest payments on its London loans in New Zealand currency. In the event of the Board succeeding. it will be freed from the expense of the present exchange rate of 25 per cent. The legality of such action had been considered by the Board previously, and it was at the request of the Minister of Finance that the decision to undertake the case was reached. It is understood that Sir Gerald Hurst. K.C. will represent the Board.
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https://paperspast.natlib.govt.nz/newspapers/THD19330614.2.113
Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19515, 14 June 1933, Page 12
Word Count
116EXCHANGE ON LONDON LOANS Timaru Herald, Volume CXXXVII, Issue 19515, 14 June 1933, Page 12
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