BANKRUPT FARMER

Evening Post, Volume CIV, Issue 25, 29 July 1922, Page 11

BANKRUPT FARMER

CO-RESPONDENT IN RECENT ' ]/;■ ;'.';.■; .DIVORCE CASE.'. ','.,'■ .V-:"-1 1 .The position of, the bankrupt estate of George /Vance Shannon was investigated yesterday before |the Official Assignee. The amount owing to unsecured creditors is i£1654, but, the Principal creditor is. Ma'ttiOj Natal Sarcich, who ,last year obtained judgment for; £1500 against bankrupt who was joined is co-respo,nderit in a divorce suit; , Sarcich: was represented by Mr. E. P. Bunny, while; Mr. E. Buddie appeared fqr bankrupt's mother, and ,Mr. Johnson for the 'bankrupt. In his statement bankrupt said that he was solvent^ up to the time judgment was entered against him. He then had a farm, but on;account of the action the Government ' refused to advance him money,' and the mortgagor foreclose^. He, had sin-'e found■, employment, as a shepherd, but was now out of work. ' '■■' Mr. •Bunny closely examined bankrupt, as to his affairs since ho inherited from the Shannon' estate' the sum of £1600. He elicited the information, that.a, four weeks'' trip' tor Auckland in; Novemt>eri 1920, involved! the exipehdiiure. of £250; also that 'bankrupt .; had purchased for £,100 his reversionary interest (£750) in' his:mother's share of the Shannon estate. Mr.'' Bunny alleged that bankrupt i had wilfully, and fraudulently' got rid of!all his assets, so,that he would not be. in, a ■position to satisfy the judgment.', ITiis :bankrupt denied, r ■ >:.-r:,- ,'v'v. •■■■: •Mr. Buddie said thathe would' hol«(| that' the. assignment between bankrupt and" his mother, was, valid,, and Mr. ' Bunny' intimated that he would V'take steps to test the matter in the Supreme :Court.; ■'-.:'■ •: '•■•■'■'..''; v ■; ._, • : ; The meeting was adjourned ..until one day next week to afford Sarcich an opportunity .to question the. bankrupt. . Mr. Buddie made it ■■■ clear that the creditors" could not hot>e for^ any relief from'-the Shannon estate. f