The question of whether the winding-up of a firm would be of more ener to a Judament creditor than the. selling "of the frm at a later "date while it was still a going concern was dispute _before Judge P. Grant Jones, in LIME Supreme Court on Tiesday, June 2, when a defended petition brougict by Ins. Max Engel, Judgment creditor the sum of $3,000, against New-milks, Utd, was heard. Mr.
Lowe appeared for the petitioner, and Mr. XK, E, Newman represented the Fecelver for the debenture holders, the landlord, and Mr. Howell, representing the staff of the defendant firm." The petition applied for the winding-up of the defendant company, on the ground that it could not pay {ts debts, stating that judgment against it had been given on March 9. this year, but none of the sim owing had been pald. The petition was supper ed by an aM™davit signed by Putting' forward the case for the petitioner, Mr. Lowe said that a com-any could be wound up it it was unable to pay its debis, which might be, said to' be 0 if the claims of a Judgment creditor against the firm were unsatisfied, He submitted that his client was entitled to claim a winding-up order. As proof of company being yinable to pay its debts, an_amdavit ha en prepared
Text read from the printed page and cleaned; old type leaves the occasional error.