ORDER FOR WINDING UP
IMPORTING COMPANY ENABLE TO PAY DEBTS (CREDITOR’S PETITION (I’m- I’n-ss Association. ) AUCKLAND, -this day. An order for the winding up by the mii'L of A. J. Shayne Limi.cd, im/orlers, has been made in a reserved udgment delivered by Mr. Justice )sfler. The petition for such, ordbr was nought* before Ilis Honour last Friiy by James Talcott (Canada.), limited, merchants. The ground of the petition, His honour said, was that the delendant .ompany was unable -to pay its debts ind evidence wars given that the petitioning creditor was the holder of .our bills of/ exchange on A. J. Shayne Limited, all of which were dishonoured at maturity. After the plaintiff company had revived last November a remittance of 21000 from the defendant company, here was still a balance clue on the .our bills of £3096. Section 169 of no Companies Act, 1933, provided ,haf a company might be wound up ay the court if it was unable to pay is debts. His Honour held that it had been /roved that the defendant company vas unable to pay its debts, and he nade an order for the winding up of he company by the court. The petiJoning' creditor was allowed coats.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 19987, 12 July 1939, Page 13
Word Count
203ORDER FOR WINDING UP Gisborne Herald, Volume LXVI, Issue 19987, 12 July 1939, Page 13
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