A LAND DEAL.

Auckland Star, Issue 291, 9 December 1925, Page 14

A LAND DEAL.

I ' c -DECISION IN NIGRO CASE. I* M ■ DISHONEST TRANSACTION. m m* S TO DEFRAUD CREDITORS. . SI . MBy Telegraph. —Own Correspondent.) HAMILTON, this day. SSi the case in. which -the Official Assignee proceeded against Vincenzo Xigr° for the recovery of £3130, allegedly gj&fen him fraudulently by his bankrupt bfcgther, Gennaro Nigro, was continued before his Honor, Mr. Justice Herdman, atrf'Hamilton yesterday. George William Robertson, solicitor, ofj>~nd, gave evidence to s.h6w that was insolvent at the time he eggered into the exchange. Reginald Victor Hull, clerk for Dalggty's, Te Ruiti, said his firm sold the stock acquired by G. Nigro. Bankrupt Yfns present at the sale, but ordered the proceeds to be sent to his brother. jm farmer named Edgar J. Davenport, whose .'property adjoins Franke's. said that in addition to selling the stock, G. Nigro and his . manager stripped the house naked. ' They even ripped the battens off the fence for fuel. The stock being removed allowed the property to go back considerably. ■'Finlay John McLean, manager of Climo, Ltd., timber merchants, Papakura, said that Gennaro Nigro told him he "had just made £13,000 or £16,000 in a big deal. He informed witness, however, that -he had just been served with a writ for a big' sum. "Then," said witness, "you will lose your £13,000." ' "Oil, no," replied Nigro. "What's in one pocket can't be put in the other," adding by way of explanation that he had put the property and the subject 6f the deal in his brother's name. Gennaro Nigro, bankrupt, said that when he first came to New Zealand 20 years ago, he was a music teacher. Later lie went in for buying and selling farms. When the Drury property was discussed with Franke.he told the latter that his (witness , ) brother would want between £c$ and £55 an. acre for it. Franke repKed that he had about £3000 worth of stqck on Jiis farm at J Te Kuiti, , and asked witness if Vincenzo would accept this as consideration. His brother agreed to the exchange, and witness signed up on his behalf. He had at no-time received from his brother any part of the £3000 proceeds from the stock. Replying to Mr. Mackersey, witness SEgd the option, he held over the shops■ iiC; Auckland was for fl 1,000. He got rii£:pf them to Franke for £17,500. gjis Honor: A profit of £0500 in about Splendid! fitness admitted that in August, 1924, a solicitor that he had a writ a&ainstJrim for £1100, and that he had no/i'chance of paying- the money or any ptjjft of. it, jjln. further cross-examination it was elicited that bankrupt was in the habit o£2>pe~nirig ; -his brother's correspondence, but said he never represented himself as Vjjncenzo Nigro. The cheque for £740', being the-.second payment for the stockmijde; out in" favour of Vincenzo Nigro, was cashed by withees, who carried the n(j£es:, in his pocket to his brother at Ej&torua. .... -~..' - said that since his-bankruptcy put a deal through-for his brother; atp'Awakino, who made ;a, J •' of £13,000. Witness did v all the negotiating and signed up on y behalf of ...his brother. He did not inspect the land, bijying it on the Government : valuation aFpne. .'. ;.. •. " . Mr.; Mackersey: I suggest -that you didn't; care what the. land was like provided you could strip it of everything did at Te Kuiti?—No. .',•'■ .. fitness admitted that he'put the farm assets at the.time of his bankruptcy, although he knew it had been sold by the registrar.'- . , \ Wincenzo Nigro denied getting £300 calili from the transaction oVer Te Kuiti faf m. He admitted swearing that he had received all that was due to him - from his brother and that he thought the £300 -wae included. Defendant gave very confused and contradictory evidence arid admitted that a sworn statement made ;by him to the Official Assignee that hip; brother had paid him .£3OOO was incorrect. He knew when his brother 1 became bankrupt, but. denied that he had discussed the matter with' him; James Dilworth,'land agent, Auckland, admitted' that he wrote, to Ftanke stating that Nigro would. , ,only consider buying ilie farm as a going-;con-cejrnand that he had : ho instructions from -Nigro to write this letter. ;. He and-his partner thought that by getting Franke to sell as a going concern they cquld get the deal through. ;His- Honor: Why did you say so if itr.wafin't true? OtVitpess:. Because: : we thought' :-.we. wSuld be able to work it like that. His'j Honor: It' ; is' hp.t a question of wtfrk'iiig a deal; it is , a question "of being honest. : \ :■!.;' ~' : . ;'. 5 tV|itnes9 denied that the commission hejjreceived (£500) from Franke.was,for thb sale of the.farm ; 'and stoclc. . It was for the farm only;; 'He , later, admitted that he got £800 out' of the wholeVdea.ll Percy James Pring, solicitors clerk, said that at a conference between the parties, Dilworth had said that the £500 commission was on the farm and stock. He also, had the impression that Nigro insisted on the farm being-put in ,a3''a goiiig .concern from the beginning. ;His Honor said he placed-no re T iance uricjn- jtho evidence of .the Nigros, and tlgit of some of their witnesses -was most unsatisfactory. On the. other hand* he regarded the evidence of Franke'i as most and he accepted that 6f Ppng the Dilworth. commissipn. Ho must hold that the .tranaac-. tioii was dishonest and was made by bankrupt for the purpose, of defrauding liis' creditors. jHe therefore gave judgment fer full amount claimed (£3139) with costs. ' '' ■•' ■■■■■