Supreme Court Action.

Hokitika Guardian, 10 November 1922, Page 3

Supreme Court Action.

STOPFORTH V. KANIERI SAWMUX COMPANY. VERDICT FOR PLAINTIFF. CHRISTCHURCH, Nov. 9. At the Supreme Court, T. J. V. Stopforth, carrier, Hokitika, proceeded against tho Kaiiieri Sawmilling Company, and D. P. Stuart, Hokitika, J. Chapman and 11. G. Chapman, of Ross, asking for an injunction restraining the defendants from carrying the sale of the company into effect. The statement of claim stated that plaintiff and defendants each had a quarter share in th« company, which was incorporated, with a capital of £2OOO. The parties had agreed to sell at auction, Stopforth stipulating for a reserve of £23,000, hut the partners rejected the proposal and sold to one 'Height on for £IB.BOO. Plaintiff alleged that Deighton was a dummy for the defendants, who were the real “purchasers. and sold to themselves at a gross under-value. The defendants argued that tlie, property was sold at its full value and offered to sell to plaintiff at Dcighton’s figure. The Court adjourned to enable tho parties to confer, after legal argument. It was agreed that since the defendants had camelled the sale complained of, an injunction was unnecessary, .and judgement mas entered for Stopforth with costs. It is understood the Company will go into voluntary liquidation.

, FURTHER PARTICULARS. if 11 RIKTCTI URCH, Nov. HI. Giving evidence in the case ol Stopfnrtli. V. Kaiiieri Sawmill Company, tho plaintiff stated the property was sold at gross under viluo. The defendants having annulled the side, then offered the property to plaintiff. for tho sum obtained at the sale. Plaintiff did not accept the offer, and the shareholders agreed to go into voluntary liquidation. Messrs R. Wild and W. Will were appointed joint liquidators. Judgment was given for plaintiff with costs of £3O, and disbursements.