BANKRUPTCY.

Auckland Star, Volume LXIX, Issue 177, 29 July 1938, Page 8

BANKRUPTCY.

"SPIRIT OF ACT."

COURT APPLICANTS. RECOGNISE OBLIGATIONS. WARNING BY JUDGE. "T .lon't propose to encourage the atti.ude that raiiMi |)ersona who have cliffi"!t.v in nicetinsr obligations which he or -he ha* incurred to think that thev can "•mi. along, without the slightest oomI'Unrtfcm or expression of regret, and "" k tn l,p di«chnrged from their obligation*.'' Thin statement was made by Mr. .In-tice Fair at a bankruptcy sitting «f the Supreme Court to-day. Some people, he aniil. took'on obliga- • iomh with a view to bettering themi'!r CM ' ,* as so °" as U turned out tlitTereiitl.v from expectations thev "Slimed that they should not he asked to hear the burden, but be allowed to pas* it on to someone else. That was i'ot within the -[-hit of the bankruptcy Ait* which were intended to provide relief for people who had made an honest xtiuggle to meet their liabilities, but owing to misfortune had found that dwpite tlicir best efforts, they had been iNMbk to do mo. Application For Discharge. H* Honors comment wan made when dealing with an application by Doris Lillian Braemar, married woman, of Auckland, for discharge from bankruptcy.

Mr. Stewart made objection to the motion for discharge on behalf of the liquidator of the BritlMh Fil„ w .Services. Limited. Counsel said that bankrupt's husband was a sliarebroker who wa* interested in promoting the company, receiving for his services £500 in cash, and some shares, in addition to payment for a period of £1040 a year. The promoters were anxious to get sufficient capital subscribed to go to an e»rly allotment, and Mrs. Braemar took 600 shares, of which 250 were subsequently «old, and there had been default on the call payments, in respect of winch she was declared bankrupt. , J , , l lf^ and was reiving a payment of £1040 a year from the company during a period of a year or two, thw being reduced to £14 a week subsequently.

.i*! «* Br d , » ,or the •PPliciwit, said that Mrs. Braemar had ho other debts than thoM with respect to the eharea ana no income whatever beyond what was received from her husband. His Honor said he had no hesitation at all in dismissing the application for discharge. Bankrupt had taken up the shares and her huaband for some years v.aii getting £20 a week from which he could have supplied the means for the rayments required. Creditors Object. Objection tu mad« on behalf of two '•reditu-, to an application by Thomas James Calluiaon. of Auckland, insurance agent, for discharge. Mr. Wheaton, on behalf of the objectors, stated that it wan desirable to inquire into payments made into a partnership account and also into the «ale of a motor ear in circumstance* indicating preference to "tine creditors. He asked for an adjournMr. Horrocks explained that the bankruptew foltowwl npon a judgment against 3lr. Collineoa in consequences of a motor tar accident, and tint there bad been no preference payment of the proceeds of the aala of the motor car. tc"itJsn«* d}o,,,md tke * I * Be * ttoß Wfbargta Granted. An application for discharge by Albeit Charles Candy, formerly of Opotiki, farmer (Mr. Ball), was recoauMnded by tlic Official Assignee provided the bankrupt accepted judgment for the payment of £100. i Mr. Bull stated that the bankrupt was not in a position to make any (ayment, having been landed in difficulties by the failure of tome bosh property, on which the Government had advanced money, to become payable as h grasing preposition. t J?".. Hpn , or i****** «P»» the fact that the Government mortgage on the property bad been greatly reduced, and it seemed to him that the bankrupt should do eemething to avoid a total 1 loss of the money advanced. , Mr. BirH offered to accept judgment for tm, to which the Official AMJgnee agreed, and the discbarge was *J2£Z M r?* r (Mr. McXeear), JUanasra, AaaMaod for diseharaa was grants* aaraanHi hmsDy. vas granted, aabjeet to sasarasiaa for urea months aa a mark af the Court'* Mr. ■arranka), far discharge, aadthe ?Sz2r.j?i2* mn ******* » ' «»«*e» the objector to snuwtaatiato aa *****— «v*mmm fajm-i. ■;■ ; ■■■ j