A LAND CASE.
WINDING UP A COMPANY. Per Press Association. Auckland, Last Night. Application was made at the Supreme Court to-day before Mr. Justice Cooper,, for an order for the winding up of the f Belmont Land Company, which was formed in 1907, with a capital of £IO,OOO, 1 in 20 shares, for the purpose of purchasing an estate of over 900 acres at Belmont..in the Hutt Valley, which was to be cut up and sold. The application was made by Mr. Ziman, on behalf of one of the shareholders, and Mr. E. W. Burton appeared for the company to object. Mr. Ziman said that the estate was purchased at a cost of £20,000, which worked out at about £2O an acre, and there was now some talk of selling the land for £l2 «ui acre. Counsel gave figures which he said proved that the company could not pay its debts, and contended that it should lie wound up. I Mr. Burton said that the shareholders Were also creditors, and they wished that no order should be made pending: the result of certain negotiations for the disposal of the property. His Honor reserved his decision.
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Taranaki Daily News, Volume LVI, Issue 5, 6 June 1913, Page 8
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195A LAND CASE. Taranaki Daily News, Volume LVI, Issue 5, 6 June 1913, Page 8
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