Pacific Islands Monthly
The news magazine of the South Pacific · since 1930
Pacific Islands Monthly, 21 December 1937Vol. VIII, No. 5

Fairymead's Purchase Of

p. 7 · Read in the full issue

Page 77

Malayta Is Valid

■THE assets and goodwill of Malayta 1 Ltd. (trading mostly in the Solo mons) were sold on August 10, 1936, to Fairymead Sugar Co. Ltd., for £95,000.

Subsequently, a section of Malayta shareholders rebelled against the decision to sell, and the terms of the sale, and appealed to the Equity Court of New South Wales. Very lengthy litigation ensued, and the validity of the sale was attacked.

On December 1, however,, the court de cided that the sale was valid. The Solo mons Islands copra plantations, formerly he.d by Malayta Ltd., will now be oper ated unchecked by the Fairymead Co.

Digitised by the National Library of Australia · OCR text via GLAM Workbench · uncorrected OCR, expect errors
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