REFUND ORDERED.

Auckland Star, Volume LXX, Issue 28, 3 February 1939, Page 9

REFUND ORDERED.

TO BANKRUPT ESTATE.

question of prefer exce.

Reserved judgment was given to-day 111 tlie >Supreinc Colil't In- Mi-. Justice J>fe<l on n motion (lieni<l in December) l>y tlie Ollielnl .Assignee in tlie estate of I'rnnk Stanley Ayrcfi, a bankrupt, for nil order tliat tlie Cambridge ClotliinoFactory, Ltd.. refund to tlie estnte £225 paid by bankrupt and £1(11) ]5/o. n s value of goods-returned to tlie compauy liy bankrupt, on tlie grotind tliat the Kaid payment and return of goods were void as fraudulent preferences. After traversing tlie evidence, bis Honor said lie was satisfied that the manager of the clothing faetorv was fully conversant* with bankrupt's* insolvent position, and that the money was collected and the goods were' taken back •with a- view to obtaining a preference over the other creditors. The value of the goods, lie found, was £i.") 3 14/5, There would therefore lie a declaration that the payment of £223 by the bankrupt and the return of goods to the value of £133 14/5 were void lis fraudulent preferences, and tliat the amount I and value thereof must lie refunded by the company to the Official Assignee."