SUM OF £340 AWARDED
EGMONT BOX COMPANY’S CLAIMS The sum of £340 interest has been awarded by Mr. Justice Smith, in a reserved judgment, to the Egmont Box Coy., Ltd. (Mr. Johnstone), in its claim against Bertram Philipps (Mr. Finlay). The claim, which was based on an agreement between plaintiff company and the defendant in 1926, was for interest on £20,000 worth of debentures. His Honour held that defendant was not liable to pay interest upon debentures repaid to debenture-holders by the Egmont Box Co., and also that the debentures required by the defendant company from other debenture-holders were not within the scope of the agreement. He decided that the interest on debentures, which had not been paid by either the Tongariro Timber Cov. or the Egmont Box Coy., was payable, to the plantiff firm, together with interest at the ,rate of 6 per cent, from July 25, 1929. His Honour remarked upon the probability of- the case going to a higher court.
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Bibliographic details
Sun (Auckland), Volume IV, Issue 1011, 30 June 1930, Page 16
Word Count
163SUM OF £340 AWARDED Sun (Auckland), Volume IV, Issue 1011, 30 June 1930, Page 16
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