YACHT MOREWA
OWNERSHIP DECIDED. WELLINGTON, Friday. The ownership of the yacht Morewa, and complicated financial dealings connected with it, were the subject of a judgment delivered by Mr Justice Johnson in the Wellington Supreme- Court this afternoon. The plaintiffs, the Pacific Exploration Co., Ltd., financiers, and the Sterling Investments Co. (N.Z.), Ltd., investors, sought a declaration that J. W. S. McArthur, company pro-
moter, was liable to pay either plaintiff £10,335, or the value of the yacht at the date of its acquisition by McArthur, together with, interest at 6 per cent, and an enquiry as to the value of tho yacht at the date of its acquisition by McArthur. “In this case,” his Honour said, I have felt that, so far as regards the particular transaction involved —namely, the disposal of the yacht Morewa— I cannot deny to the companies their legal status, and that the control of the companies by the defendant is not in itself sufficient to entitle me to impute fraud without better proof than has been offered in this action. Without fraud, I think it clear the weight of evidence is against interpretations placed on the transactions by the plaintiffs, and .■judgment must be for the defendant.” —(P.A.)
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Wairarapa Daily Times, 12 September 1936, Page 5
Word Count
203YACHT MOREWA Wairarapa Daily Times, 12 September 1936, Page 5
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