SUPREME COURT.
(Before His Honour Mr, Justice Sim.)
THE COMPANIES ACT', 1008.
In the Supreme Court, yesterday Mr. Justice Sim heard ,an originating summons, issued for tho purpose of obtaining a declaratory judgment in tho matter of the Companies Act, 1908, and thb mutter of tho memorandum and articles of association of Turnbull and Jones, Ltd. Tho company was plaintiff in tlie summons, while Mr. A. H. Turnbull was joined as n nominal defendant. Mr. A. W. Blair appeared for tho company, whilo Mr. Mi Myers represented tho defendant. Tho action was a friendly suit brought for tho purposo of obtaining a declaratory judgment, which would decide the question as to 'whether the company can validly convert certain of its unissued shares into preferenco shares. The company has power to issue preference shares by increasing its capital, but it was desirous of issuing them without increasing cupital. Tho parties were not in dispute on the question, but merely adopted tho safe course of comiug to tho Court. After hearing legal argument, his Honour reserved decision.
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Dominion, Volume 6, Issue 1687, 1 March 1913, Page 13
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175SUPREME COURT. Dominion, Volume 6, Issue 1687, 1 March 1913, Page 13
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