The Colonial Bank.

Woodville Examiner, Volume XXII, Issue 3868, 2 May 1906, Page 2

The Colonial Bank.

Dunedin, April 30<

The Colonial Bank affairs cropped ap again at a chamber sitting of the Supreme Court, before Mr Jnstice Cooper, when Victor Braund, of Wellington, appeared iu person to ask for an order further postponing the destructi in of the books and papers of the Colonial Bank. Mr Braund said he had commenced an action in Wellington against toe Hon. G. McLean and P. C. Neill, directors of the defunct bank, to recover carnages for alleged misrepresentation in the directors’ reports and balance sheet-, and in speeches of the Hon. G. McLen, as chairman of directors. Mr Braund went on to say was not acting in a vindictive spirit, but ( his Honor asked him to confine himself to showing that the Court had power to make an order, and, secondly, that it should be made.

Mr Braund, addressing the Court at length, quoted Mr Justice Williams’ judgment. Mr Justice Cooper several times expressed regret that Mr Braund had not the assistaue# of counsel.

Mr J. P. M. Fraser replied briefly on behalf of the liquidators, and hia Honor gave his decision. He declined to make the order to extend the time for keeping the books until Mr Braund’s action came on, but directed the. official assignee as liquidator to retain the books and papers till May oi d. If Mr Braund in the meantime filed an application to review the present proceedings before Messrs Edwards and Cooper, Judges, the assignee is to keep the books until May 10th, when the fate of that application, if made, would be known.