INSOLVENT COMPANY

Otago Daily Times, Issue 24417, 1 October 1940, Page 9

INSOLVENT COMPANY

ALLEGED MISFEASANCE LIQUIDATOR’S CLAIMS (Special to Daxls Times) WELLINGTON. Sept. 30. After a nine-day hearing in the Supreme Court, decision has been reserved by Mr Justice Johnston in the action brought by John Francis Pym Yeatman, an accountant, of Wellington, who alleged misfeasance and a breach of trust in the running of the Christchurch firm of J. E. Hurdley and Son, Ltd., which went into liquidation on March 14, 1933. Yeatman was the liquidator The defendants were Alfred Llewellyn Hurdley, company director, Wellington. William Andrew Hurdley, salesman, Auckland, and Frederick George Dunn, accountant, Christchurch, the company’s auditor. The defence was a complete denial of the allegations. The case, which was originally set down for three days, was divided into the following items:— 1. A claim for £1356 6s 8d agamst the three defendants, and for £975 10s Id against A, L. and W. A. Hurdley, being moneys allegedly wrongfully paid out of the funds of the company to the estate of the late John Edward Hurdley. 2. A claim for £7759 4s against the three defendants for loss allegedly suffered by their continuing to trade after the company had become insolvent, and an alternative claim against A. L. and W. A. Hurdley for £5015 13s lid for prejudice allegedly suffered by the creditors by the incurring of debts without reasonable expectation of being able to pay. 3. A claim against A. L. Hurdley for accounts of moneys and assets of the company allegedly received. 4. A claim against .F. G. Dunn for accounts in connection with the liquidation. 5. A claim for an order for the delivery of the books.