BANKRUPTCY MATTERS.

Auckland Star, Volume LIV, Issue 123, 25 May 1923, Page 7

BANKRUPTCY MATTERS.

■_■■ ■ i ■ APPLICATIONS FOR DISCHARGE. At a Bitting of the Bankruptcy Court this morning before Mr. Justice Herdman, an application for discharge was made on behalf of Arthur Roy Brewer (Mr. Hanna). Counsel said that the creditors were agreeable to the application as they realised that if bankrupt was unfettered he had a better chance of meeting his responsibilities. His Honor pointed out that bankrupt had estimated an equity in a house property to produce £2075, whereas it produced only £18. "He was only £2000 out in his calculations," said his Honor tritely. "He is supposed to be a competent business man, according to the Official Assignee, and I think he should make a (better explanation of his affairs to the Offitial Assignee before he is granted his discharge." The salient feature of the bankruptcy, jj laid the Official Assignee, was that it was brought about by gross neglect at an exceedingly critical time. There was, liowever, no opposition on the part of the creditors. His Honor: There is no harm in standing the matter over. He ought to be •Mc to show how he made his losses. Mr. Hanna: Most of the losses were made in grain trading. • His Honor: Well if he satisfies the Official Assignee that they were bona fide there will be no objection. Mr. Hanna suggested that the discharge be granted, subject to a judgment - for the amount owing, but his Honor thought that futile, because once bankrupt was discharged he was under no further obligation. Mr. Hanna: If you enter judgment he Mr. Fisher: I think it unwise, because the claims amount to £2000. His Honor concluded by saying that if' it was shown that the losses were Incurred by grain trading, a pure misfortune, and Mr. Fisher was satisfied, be would grant the discharge. The application was adjourned to be brought on ■gain at forty-eight hours' notice. Discharges were granted to William Craig Walker, subject to his consenting to judgment being entered a.ainst him Jpr £104 5/; Ronald Walter Wise, George Herbert Pearce, and Flora Mary Commins.