A LAND TRANSFER.

Auckland Star, Volume XLVIII, Issue 211, 4 September 1917, Page 2

A LAND TRANSFER.

WRCELE INSOLVENT. IGNORANCE OF THE LAW. Further light was thrown on a rather interesting bankruptcy to-day. when the creditors of D. G. Rowe. builder, of Waiuku, met for the third time in the office of the Assignee (Mr. W. S. Fisher). Mr. Black appeared for the creditors, and the party concerned beside the bankrupt, his brother-in-law, was represented hy .Mr. Dunbar. The two former meetings were not attended by bankrupt, who had failed to forward either statement or schedule. He was present to-day, when the examination tended to elicit facts regarding the transference of his property to his brother-in-law at a time when, it was alleged, he was already bankrupt. David George Rowe. the bankrupt, questioned by the Assignee, said he did not send a schedule because he thought the forms sent to him had to be returned personally. He excused himself for his failure to attend or send forms in accordance with promises made by pleading doctor's orders. He met with au accident before the first meeting. He was unwell again on the morning of the last meeting. Bankrupt produced a schedule showing his liabilities as £351, all due to unsecured creditors. Against this his assets were £101, consisting of book debts, £56; stock in trade. £35; and furniture . £10. Answering Mr. Black, bankrupt said Allan Stanley Barriball was his brother-in-law. In January of this year he had I property at Waiuku. a half-acre section 'he hid "bought, he thought, in 1911. He had paid £25 deposit, and gave a mortgage for the balance, £400." On the see- , tion was a house, and he valued it all in January at about £700. In October last a distress warrant was issued, but the bailiff could find no goods to seize. Bankrupt was then insolvent, and last January his position was no better. During the last twelve months he saw bis 1 brother-in-law frequently, and he had told this man he "was pretty close- ■ hauled." Bankrupt owed him about £120, and Barriball suggested that the property be transferred. He said they know that the mortgagee was going to foreclose, as £IS interest was owing. He He did not know of the moratorium. j though he had a vague idea of that law. He could not see how he could get out of it when the transference of the proI perty was suggested by B.trribail. and not for a minute till after bankrupt had j j signd the transfer did he think of the: , other creditors. He knew nothing | ■ whatever of the Bankruptcy Act. ! Mr. Black: Without any pressure at all j '• from Mr. Barriball. and at a time when' you were hopelessly insolvent, you signed over to him practically the whole of your estate ?—Yes, ! And he knew you were insolvent!—li suppose so. Al!an Stanley Barriball. a painter at j Waiuku. said the property he got from j Rowe was worth £700. During the last: j twelve months he had seen Rowe fre- \ quently. They had never discussed! ; Howe's position, and Rowe had never told him that he was in a bad financial | • position. Witness bad often pressed ~j_we for--the £l2f) owing- .and.. had! •""threatened to sue the bankrupt If he did' ■ not transfer the property to him. "When! : this arrangement was made he knew' . nothing of Bowe's other creditors. The meeting was adjourned sine die. to enable further inquiries to be made regarding the transaction.