CALL-UP ON SHARES
Eight Years In Liquidation
(N.Z Press 4 sen.—Copyright) SYDNEY, May 5. Thirty-four shareholders will be required to pay £22,125 in new call-up on shares in a company which has been in liquidation for eight years. The company—Associated Dominions Assurance Society Pty. Ltd.—went into liquidation in 1953. In the high court today Mr Justice Fullagar granted special leave to the liquidators of the company to make a call-up of 17s on the £1 shares. 3s Paid Mr D. K. Voss (for the liquidators) said a call up of 3s on each share was made before the company went into liquidation. He said it was expected the yield from the new call up would be about £22,125. The money would be used to help pay for the company's liabilities. Mr Voss said the 34 shareholders would be required to pay 17s a share. The company’s liabilities, he added, were £634,646 and assets £387,268. The application was consented to by Mr R. J. Ellicott (for the insurance commissioner) and Messrs M. D. Broun and K. R. Handley (for a number of shareholders).
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Press, Volume C, Issue 29506, 6 May 1961, Page 15
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182CALL-UP ON SHARES Press, Volume C, Issue 29506, 6 May 1961, Page 15
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