The Rangitikei Fibre Company's Liquidation.

Manawatu Herald, Volume III, Issue III, 22 August 1890, Page 2

The Rangitikei Fibre Company's Liquidation.

THE CASE SETTLED OUT OP COUBT. The summonses issued by Mr Jelliooft on hehnlf of the Official Li quid a* toy in the Fibre Com pany against the Directors of the saicl Oomnany camp on for hearing before his Honour the Chief Justice yesterday morning. Mr Jellicoft informed his Honour that, fhp parties had come to an un. flerjitftnding and wished to compromise, and he asked the C">urt to confirm the terms of the arrangement. H's Honour maid t^at a proper ftpplication woi^d have first to be made for at thp. nresen* time the only ap* n'iofttion before him was one charg* in" the Dirnctorn and certain individuals with mi c feasancfl. AfUr argument th.p furtlieif hear in<? of Hifi ca»e wa« adjourned till 2 oVock, Mr .TelMooe Raving he would then go on with the chargpg. <">n r««nmine: at 2 Mr JeUicoe moved forth" sanction of the Court to a provisional ngreement which had "bepn entered into hy '*• Pharazya as r*pre enting the Directors of the Company, wher-hv in consideration of the sum of £675 a?r"ed to be paid into Court, and in consideration of the abandonment of the claim of £1193 by the New Zealand Loan and Mercantile Agency Company, Limited. apa ; ns* thp Fibrfl ' ompany; of tl.« two claims of £200 esch made by Mr Pharajivn and the Bank of Anatolia*™ ; of thp. claim" of Messrs H-.'roonrt and "ttadham for brokerage nnd salavy ; and a'si of all claims the Directors mic'hfc have for advances, &" , the liquidator assigned to Mr Pharazvn al' thfi assets, if any of the liquidating 1 Tn answer to bis Honour, Mr Tellicoe said the effect «f the com* primisft was that practically all the vieh^i of action would be s'^ld for His Honour then said that he saw no rpa«on why the order should not be made. Ho had heard th* evid* pnce efiven by Dr Nowman and o'hers, nnd was of opinion that the arrnnsjpmont tmw proposed was of a •atisfaefcnry nature. Mr JeMi"oe then withdrew the chafes against the Directors — N. Z. Timts.