REDUCTION OF COMPANY’S CAPITAL
Dominion Special. Auckland, November 15.
An application was made to Mr. .1 ustlce Herdman in the Supreme Court for confirmation by the Court of a resolution reducing the capital of Hetherington’s, Ltd., drapers and importers, Thames, from £lOO.OOO to <£84,000. Mr. West, who appeared in support of the application, said that the scheme for the reduction of capital involved no diminution of liability for any uncalled capital, and the creditors therefore wore not affected. The reduction would affect only the original shareholding of the Hetherington family, the founders of the business, and was designed to bring the company back to a stable dividend paying basis. Decision was reserved.
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Dominion, Volume 20, Issue 44, 16 November 1926, Page 9
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112REDUCTION OF COMPANY’S CAPITAL Dominion, Volume 20, Issue 44, 16 November 1926, Page 9
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