BELMONT LAND COMPANY.
TO BE WOUND UP. Auckland, June 15. Sitting in Chambers yesterday, Mr. Justice Cooper considered' an application by R. L. Ziman, on behalf of one of the creditors , (Mr.' Buchanan, of ■ Christchurch) in the estate of. the Belmont Land Company, -Ltd. Mis Honor remarked that the company was in a parlous condition, and the 'mortgagee was entitled to exercise his power of sale within a few days. The company had had plenty of time to arrange its finance, but had been unable to do so, and, regarded from the most favorable point of view, it was insolvent. In the circumstances, seeing the majority of the creditors (i 0 value) desired a winding up, the Court ought to order that the estate be wound up. When the matter had been submitted to the creditors it had been shown that creditors to the extent of £876 were against the winding-up, and creditors to the extent of £023 were in favor of it. The sooner the Official Assignee had charge of the estate the better. The assignee would ex officio be-' come sole liquidator of (lie estate. An order was made accordindv.
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https://paperspast.natlib.govt.nz/newspapers/TDN19130618.2.62
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Taranaki Daily News, Volume LVI, Issue 15, 18 June 1913, Page 7
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192BELMONT LAND COMPANY. Taranaki Daily News, Volume LVI, Issue 15, 18 June 1913, Page 7
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