TO BE WOUND UP
SOUTHLAND WOOLLEN MILLS SUPREME COURT ORDER Press Association DUNEDIN, Monday. Holding that there existed sufficient grounds for exercising his statutory discretion that it was just and equitable that the Southland Woollen Mills, Ltd., be wound up, Mr. Justice McGregor has made an order in favour of the petition of the shareholders who asked that the company should cease operations. His Honour said that he was nut satisfied that the delay of nearly four years in commencing business had been sufficiently explained. The final result was that the original project had been abandoned, and a new scheme projected by Gore directors to work a worsted mill against the wishes of the majority of the shareholders. The judge commented on the fact that after the result of the referendum became known, the petitioner’s solicitors requested the directors to refrain from further action until the petition was disposed of, but the directors cabled to Sydney for an estimate of a complete plant of worsted machinery.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/SUNAK19281211.2.128
Bibliographic details
Sun (Auckland), Volume II, Issue 534, 11 December 1928, Page 14
Word Count
166TO BE WOUND UP Sun (Auckland), Volume II, Issue 534, 11 December 1928, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Sun (Auckland). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in