CLAIMED BY CREDITORS.

Auckland Star, Volume LVI, Issue 224, 22 September 1925, Page 8

CLAIMED BY CREDITORS.

PROCEEDS OF STOCK SALE. ACTION BY ASSIGNEE. • (By Telegraph.—Own Correspondent.) HAMILTON, this day. "This unfortunate woman had £500 left her by a will and she handed the money over to her husband to assist him in carrying on his farm. Now you want to take the money away from her," was Judge Herdman's comment in a claim by the Official Assignee in the estate of Herbert Pratt, farmer, made at the Supreme Court to-day to try and recover the proceeds of stock sold.

The contention of the Assignee was that the stock belonged to bankrupt and that any proceeds from the sale should go to his creditors.

It was pointed out that Pratt had given his wife a bill of sale over the stock, proving that he was indeed the owner.

The defence was that the cattle be longed to Mrs. Pratt.

His Honor said all the merits were, certainly with defendant, the only difficulty was a clause in the Act which stated that any money or goods transferred by a wife to her husband for the purposes of carrying on business shall be treated as assets in the husband's estate. He adjourned the case to enable counsel for the defence to look into the question.