DISCHARGE OPPOSED.

Auckland Star, Volume LXII, Issue 286, 3 December 1931, Page 9

DISCHARGE OPPOSED.

BANKRUPT WAIKATO FARMER

JUDGE ADJOURNS HEAHING.

(By ielegraph.— Own Correspondent^,

HAMILTON, this day,

Opposition to an application for discharge from bankruptcy, which was made by Max Jonas Friedlander, farmer, of Hamilton, was expressed in the Supreme Court before Mr. Justice Herdman to-day. Counsel, representing several local creditors, contended that bankrupt had incurred debts to trading concerns with no reasonable expectation of bein" able to pay them, and that his affairs had become very involved. Bankrupt's counsel pointed out that the Official Assignee was perfectly satisfied with Friedlander'e position, which was duo solely to the fall in the price of butterfat. "His liabilities totalled £33,000, and his debts consisted mostly of advances by his brother-in-law and aunt, only £1100 being claimed by ordinary trading creditors. In the witmess-box bankrupt said he filed his petition last February. As the result of the bankruptcy he had lost £10,000 of his own money in cash. To creditors' counsel bankrupt said most of the unsecured debts were incurred between 1929 and 1930. The total mortgage indebtedness on the property amounted to £30,000. He considered the property worth "about £36 per acre. To his counsel bankrupt said when he incurred the debts he anticipated no difficulty in meeting them. At a second meeting of creditors which' had been called only one had attended, and he was not objecting to discharge to-day. His Honor said bankrupt's position should have been known at the time the debts were incurred. The Official Assignee said bankrupt had produced books which had satisfied him and he liiui found nothing against him. His Honor advised the A&signee to make a supplementary report and Mf case was adjourned until Wednesday.-