WINDING UP ENEMY FIRMS.

Manawatu Herald, Volume XXXVIII, Issue 1635, 9 November 1916, Page 4

WINDING UP ENEMY FIRMS.

Winding-up orders were made against no fewer than 312 enemy businesses in the United Kingdom between January 27th, the date of the passing of the Act, and August 19th. The businesses already dealt with represent many millions of capital, and extend over the whole country. A Very large number are, or were companies which had been registered in the United Kingdom as English limited liability concerns. They were mostly companies, however, in which enemy capital and interest predominated. It has been the general custom of the Board of Trade to appoint a practising accountant or controller to conduct the formality of winding-up. It is the duty of this official to realise the assets of the business and to pay the creditors therefrom, any amount which in the ordinary course would be payable to enemy subjects being handed over to the Public. Trustee. Already some of the large concerns have been transferred from enemy to English hands, purchased with all-British capital. Care is taken to realise each property at its full market value. One enemy property was disposed of recently through the Public Trustee for half-a-million sterling.