SUPREME COURT

Dominion, Volume 11, Issue 139, 1 March 1918, Page 5

SUPREME COURT

PROTRACTED LIQUIDATION,

In tho Supreme Court yesterday, before the Chief Justice Sir Robert Stout, application was made by the Official Assignee in Wellington for commission on the winding up of the Maryborough Brewery Company, which was in liquidation." , Mr. T. Young, who appeared on behall of soveral shareholders, opposed tliu allowance of any commission, holding that there hnd been undue dclaj- and iiielficicncy shown by the Deputy-Offi-cial Assignee's office at Blenheim in liquidating the company. The liquidation was commenced in May, 1911, and tho business was carried on at a loss until November 21 of the samo year, when it was ,sold, and realised £4348. The Deputy-Official Assignee shortly afterwards had on hand the sum of £1343. The money had not been put out at interest, and six and a halfyears elapsed before the estate wns properly wound up. Counsel emphasised that no blame was attachable to the Wellington office or to the Assignee's solicitors.

According to _tlio Chief Justice it was ridiculous that'liquidation had been so long postponed. He failed to understand why the money had been allowed to remain so long without earning interest. He concluded by asking whether the Assignee got any' commission.

• Mr. von Haast, wlio/ippeared for the liquidator, replied that the commission went to ,tlio office, not to the Assignee. His Honour made an order disallowing any commission, remarking that this would to some extent recompense the creditors for the interest they had lost.