WINDING-UP ORDERED

Sun (Auckland), Volume IV, Issue 947, 14 April 1930, Page 10

WINDING-UP ORDERED

r PALMER WARD CONSTRUCTION COMPANY “UNABLE TO PAY DEBTS" - The windmg.jp of „ city _ i ing and contracting firm. p , “ Ward Construct,on CompT" (N ,Z.) f Limited, was ordered hi Mr. Justice Ostler, in the Sucrem!! r Court today. The order for s ! pulsory liquidation was made on the petition of a creditor. Cama’ 3 b f e V T [? de a S) L ' mited ' m «rcha„t7; of Auckland. According to the petition the Palmar 1 | Ward Construction Company (X 7 ’ .le^pnafo^L^rtn" , | by resolution on August 15. 19-9 '■ ; capital was increased to £?.oo« bv tb 3 j of a furth. - - | The concern wa.-, formed to carry 2 1 , business as builders, contractors 22 - . . • commodities. The firms indebtedness to Ca mD ben 1 (Traders 1 was £lsl. judgment Tor e this amount having been obtained C > the cr« ® been paid. ° C 5Um h »' t AHeging that thi Palmer. WaM ! Lompanv "us indebted to a large num--1 her of companies and -persons 1 . that, at least, one distress wirras, r j issued against it had been returns Mas not satisfied, the petitioning credr j tor asked for the winding-up of thi _ • defendant concern. Representing th** petitioning eredx . tor. Mr. Ennor said other creditors b*~ , sides his clients had been misled bv . . booklet. Read This and Be Ifiscor- ; tented,” issue and broadcast throuchl - out the city and suburbs bv the pV i : 1 ' er , Ward Company. Counsel elaimM to knot, of, at least, three cases in : which the unsuspecting public had , paid the defendant firm a deposit of : _£ su, and that was the last heard of ’ , Mr ' „ Ju - stic<> °' ller observed that ; these facts could not be referred to unless they were on affidavit. Tbe 1 Judge asked whether the affidavit filed - tnat day, in which reference ~, made to the fact that the debenture holders had seized the whale of th" t assets, made any difference to th. petition. Mr. Ennor said it did cot j... clients wished the whole cireumI stances to be investigated by an indeivndent person, preferably the officiv ; liquidator. In granting th© order, his Humour >aid the tacts sworn to showed tli* 1 company to be unable to pay its debts and that it was apparently insolvent into voluntary liquidation, or that tb« debenture-holders, had seized the assets did not affect the position.

Costs were granted to the petitioniM creditor. , ®