APPEAL COURT.

Taranaki Daily News, Volume XLVII, Issue 8078, 6 April 1906, Page 2

APPEAL COURT.

FEB FUESS ASSOCIATION. Wblmnoton, April 5, - In the Appeal Court the case Cowlishawand another versus the Christ, church Press Company was resumed. Plaintiffs are deferred shareholders in the defendant company, and claim that deferred shareholders are entitled to share surplus profits in the hand* of the company after satisfying the rights of preference shareholders, aid which should have been paid to doferred shareholders as dividends. The ease by consent hadjeeeu reamed from the Supremo Court to the Appeal Court. After some argument Mr Justice Cooper raised the point whether or not it was necessary that preferential «kareholder».>hould be joined aa defendants.. Mr Bell, for the appellants, conceded it was.lbut Mr Hoiking, for defendants, opposed it. Tjio Court over-ruled the objection, and i made an order that the order removing the pro* 'oeedings be discharged and remitted to the Supreme Conrt with power to plain; 1 tiffs to amend and add parties as they may be advised, the Supreme! Court to fix costs, if any, inßupremefCourtby amendment, the costs of all proceed, ings in thV-Court to be 40 guineas. '.

A very interesting point was pre* sented in the Court of Appeal this v afternoon, in tho case of Willi Feb \ and Isadora Samuel de Beer (trustees of tho will of Bendis Hallenstein of Duncdin), against William West Knowlcs hud Frederick William Hales (trustees of tho will of Joseph Burne of Wellington). Bonjo 15 year* before his death Joseph Burne granted a lease for 21 years to HeuryCondy t Wilson and Joan Moore Bichardson. In 1891 these lessees transferred their* \ interest to Bendix Hallenstein, who /" also got a new lease for 14 yean from the trustees of Joseph estate, In the original lease Wilson and Richardson had a purchasing clause i, inserted, and when Bendix Hallenstein - .- took over the lease, he alsotook over tho : • option to purchase for £6,000. The -h executors in Hallenstein's estate (tho ■£ present plaintiffs) tendered £6OOO to ,'- the executors of Burne's estate (the defendants) in pursuance of tho pur* chasing clause in tho agreement, but ' & defendants refused to accept. They "'. now say the land is worth £IO,OOO, aud that as trustees they had no '"« power to lease. The present case is r oue for specific performance of an igreemont, or damages. It was removed by consent direct from the Supremo Court into the Court of Appeal. , ; ''.-h

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