SHARES IN A COMPANY

Waipa Post, Volume 32, Issue 1780, 8 July 1926, Page 5

SHARES IN A COMPANY

ARTICLES IN DISPUTE. (OBy Telegraph. Press Association.) WELLINGTON, Wednesday The Court of Appeal was engager! to-day hearing the appeal of James Battie Whisker against the New Zealand Co-operative Dairy Company, Ltd,. Messrs (Hampson and 'McGregor appeared for appellanlt and Messrs Northcroft and Johnson for the respondent. The action before the Supreme Court Was of am involved nature. Appellant claimed firstly £7B Bs, representing sums which, it was alleged, were \ wrongfully detained by the respond- i ent for calls; secondly, an order dir- j ecting that his.name should be removed from ifch-e share register of the respondent company a s holder of 14 gutter shares; and thirdly that a number of articles in the articles of association of the respondent company should, be declared ultra vires; and finally that certain shares in the respondent company should! be resumed or surrendered pursuant to article 35 of its articles of association. At the outset Mr Northcroft, for the respondent company while not admitting that any of its "articles could be successfully assailed, undertook to pay the sum of £7S 7s into the Court, and he consented to an order thalt plaintiff's name should be removed from the share re-, gister in respect of the ■l4 butter S Tl'B-T 6 S» ' The only questions therefore were 1 aft for determination were, that of the validity of certain of the. -company's articles and, second, P-S claim of plaintiff to have his shares' resumed. Regarding the last-mention-ed claim the rights of the parties dspencited on the interpretation of, the article and no question was raised about its validity. Mr Justice Herdman had decided ithese two questions in favour of the respondent comp~any and the present appeal was against his decision.

The Court dismissed, the appeal without calling on the respondent. Costs were allowed respoadent on?the middle scale.