A BANKRUPTCY CASE.

Press, Volume XLVIII, Issue 7863, 14 May 1891, Page 6

A BANKRUPTCY CASE.

(PRES3 ASSOCIATION TELEGRAM.)

WELLINGTON, May 13.

Judgment was given in the Appeal Court to-day in the case of the Official Assignee, Dunedin, in the estate of Marr v Chick, an appeal from a decision of Mr Justice Williams in a case in which the appellant sought to impeach the sale by Marr, a bankrupt, to the respondent before his bankruptcy. The Court allowed the appeal, and declared the transaction (sale of a dairy factory) void as an act of bankruptcy, The respondent was ordered to be allowed to set oft certain moneys, as against which he held an undertaking to mortgage lands and fixtures to the extent of the value of the same. Mr Justice Denniston remarked that it had been said that the Appeal Court could not make any terms, and that debts paid by the respondent were to rank as claims on the estate with debts at the time of bankruptcy. If it were so, it was an instance of the inconvenience caused by tho existence of a separate Court of Bankruptcy. The members of the Appeal Court were satisfied, however, that the Bankruptcy Court had the means to work out an equitable adjustment between respondent and the other claimants. The appeal was allowed, with costs. Sir R. Stout, for the respondent, intimated his intention ot appealing to the Privy Council.