AN INTERESTING POINT. [By Telegraph.]

Evening Post, Volume XLVIII, Issue 9, 11 July 1894, Page 2

AN INTERESTING POINT. [By Telegraph.]

i united press association. i Christchurch, This Dat. At the sitting of the Bankruptcy Court to-day, Mr. Fisher moved for an order to set asida the rejection of the proof of claim of the New Zealand Loan aud Mercantile Agency Co. against the estate of Fletoher, in respect of a call of .£2210s per share on 525 shares of the old company, being a total of £11,812105. The proof of debt had been put in by the local manager, on behalf of the Official Liquidator of the company, for liability in respect of shares held by the bankrupt at the time of his bankruptcy. Fletoher became bankrupt in August, 1893, and the company was ordered by the Supreme Court of Judicature in England, on 13th July, 1893, to be wonnd up. The Official Assignee rejected the proof, whioh was for the total liability in respectof the bankrupt's shares, on the grounds :—(1), That there was no provision in the Bankruptcy Act enabling a liquidator to prove for the prospective value of calls not made ; (2), that the liquidator could not prove by :an ageut; (3), that the liability was incapable of being fairly estimated; (4), that the proof waß informal and irregular in that the agent had not been authorised under seal. After argument bis Honour ordered proof to be admitted. Costs were not allowed.

"Haveyou a Contributors' Clnb heref" asked the author. "We have," replied the weary editor. " John, hit him a olip with that waddy."