COLONIAL BANK LIQUIDATION.

Taranaki Daily News, Volume XLVII, Issue 8098, 1 May 1906, Page 2

COLONIAL BANK LIQUIDATION.

THE DESTRUCTION OF THE BOOKS. FBH PBEBS ASSOCIATION. Dunedin, April 30. Colonial Bank' affairs cropped up again at a Chamber Sitting before Justiee Cooper, when Victor Braund, of Wellington, appeared in person to ask for an Order furthor postponing the destruction of tho books and papers of the Colonial Bank. Mr Braund said he had commenced an action iu Wellington against the Hon. Geo. McLean and Mr P. C. Neill, directors of the defunct bank, to recover damages for alleged misrepresentation, in tho Directors' reports an 4 halanco-shoeta, and speeches qE the Hon. G. McLean, as Chairman of Directors. Braund wont on to say he was not acting in a vindictive spirit, but His Honor asked him to confine himself to showing that the Court had power to make the order, and, secondly, that it should be made. Braund addressed the Court at length, quoting Mr Justice Williams' judgment. Mr Justice Cooper several timos expressed regret that Braund had not the assistance of counsel.

Mr J. P. M. Fraser replied briefly on behalf of tho liquidators, and His Honor gave his decision. He declined to mako an order to extend the time for koeping tho books until Braund's action on, but he directed the Oflieial Assignee, as liquidator, to retain the books and papers till 3rd May. If Braund, iu the meantime, (Hod aa application lo review the present proceedings before Justices Edwards and Coopor, tho Assignee is to koep tho books until May 10th, when tho fate of that application, if made, would bo known.

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