Wind-up Although Pay-off Offered
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WHEN Judge Abraham Flint made an order at Nottingham County Court for the winding-up of S. and S. Transport, Ltd„ Cedar Road, Nottingham, he referred to an anonymous shareholder who had offered to pay the company's debts, amounting to £1.300, within a month. The judge said the important point was that the cash could not be raised at once.
"The company has had an appalling record and quite obviously the business has become insolvent," he stated.
Mr. G. Hodgson, for the majority _of the shareholders, suggested that a provisional order should be made as the offer had come from a man who could advance enough money to discharge the debts.
Mr. F. G. Naylor, appearing for six creditors, said that he knew the identity of the person concerned and could not agree to Mr. Hodgson's suggestion.