“A SHADOWY CLAIM”
COMPANY’S SOLE AGENT SOVIET CONFISCATIONS By Cable.—Press Association.—Copyright LONDON, Tuesday. In the Court of Chancery Mr. Justice Eve granted an order for the reduction of the capital of the RussoAsiatic Consolidated Company from £12.000,000 to £4,500,000. Counsel for the company said the loss of £7,500,000 was due to the confiscation of its property by t' e Russian Government. The shareholders were all English. Counsel said the late Soviet repre sentative, M. Krassin, agreed in 1922 to a provisional arrangement to give the company £2,000,000 as compensation and also to return its property. However, the Soviet had refused to ratify that arrangement. Since 1922 the company’s sole asset had consisted of this somewhat shadowy claim. Mr. Justice Eve: You seem still to value it. Counsel replied that the directors desired to keep the question open.— A. and N.Z.-Sun.
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Bibliographic details
Sun (Auckland), Volume 1, Issue 108, 28 July 1927, Page 1
Word Count
140“A SHADOWY CLAIM” Sun (Auckland), Volume 1, Issue 108, 28 July 1927, Page 1
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