WOODEN SHIP CASE.

Hawera Star, Volume XLVIII, 15 July 1924, Page 5

WOODEN SHIP CASE.

SETTLEMENT REACHED. BY OABLI—PRXSB ASSOCIATION— COPYRIGHT (Received July 15, 9.45 a.m.) NEW YORK, July 14. A message from. Seattle (Washington State) reports that the Commonwealth attorneys received to-day 15,000 dollars from the trustee in bankruptcy of the Paterson, McDonald Shipbuilding - Co., the litigants cancelling their claims and counter claims. . This follows the Commonwealth ’s acceptance of a settlement of the terms. The money is being forwarded to the office.of the Australian Commissioner at New York.Times. . [A cable message from San Francisco dated June 27 stated: The attorneys for the Australian Commonwealth. Government have informed the official secretary, Mr Edwards, that a private settlement has been reached in the -wooden ship case, which, after obtaining tlie Federal Court’s approval, becomes official. Mr Edwards lias cabled details to the Prime Minister’s Department, as follows: The trustee in the bankruptcy of the Patterson, McDonald Shipbuilding Co. has a fund Of 468,000 dollars, representing the assets of the defunct concern. The Commonwealth and five trustees agree that if both parties cancel their claims and counter-claims against each other, including the ship eompayn’s demands for a sum exceeding 300,000 dollars, the trustee will pay the Commonwealth 130,000 dollars. The Commonwealth, however, must pay the attorneys’ referees’ and arbitrators’ fees, and many other sums in connection with the long standing litigation, amounting to 115,000 dollars. The Commonwealth, therefore, will ultimately obtain the cash sum of J 5,000 dollars.]