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SMALL BANKRUPTCIES.

At Wellington, on Monday, three bankrupts stated that they were compelled to file because judgment summonses were out against them. The New Zealand Times reports the following dialogue between Mr Justice Ed\vard3 and the Official Assignee. His Honour—" This seems to be a very serious business, I am afraid, Mr Assignee." The Official Assignee —"Yes, it wants reform in some way or other." His Honour —" You can see how on the application of one creditor, without any regard for the other creditors, a man has to pay to the exclusion of the others, or else come into Court." The Official Assignee— "Or else he has to pay all ths others at once, or they come down on him as well. I intend to have a conversation with the Under-Secretary of Justice on the subject." Hi 3 Honour remarked that it was very unsatisfactory, because ib caused a number of small bankruptcies which should never take place at all.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP18970826.2.34

Bibliographic details

Press, Volume LIV, Issue 9815, 26 August 1897, Page 5

Word Count
160

SMALL BANKRUPTCIES. Press, Volume LIV, Issue 9815, 26 August 1897, Page 5

SMALL BANKRUPTCIES. Press, Volume LIV, Issue 9815, 26 August 1897, Page 5