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AN IMPORTANT CASE.

At the evil sittings ot the Auckland Supreme Court, before Mr Justice Conolly Offi7 l "? P ° rtant - ca f came on ia of the Office Assignee ,„ Bankruptcy v. Allan W. 0 Neill and Lewis O'Neill, of Auckland a claim of £1,973 12,, for calls and interest due to the Bunk of New Zealand! The pleadings set out that Allan W. O'Neill was adjudicated a bankrupt on April 6, 1897 and the defendants were the trustees and executors under the will of James O'Neill (deceased) At the time of his death New Zealand shares, and after his death the defendants were registered as the proprietors of the said shares, but eon! state V?l th6m a 8 *-*- i "he estate. The shares were then subiect to a liability of £lO per share, and further: eaft were since made, but "the defendants did no? pay them. The Bank sued the defendant and recovered judgment. In October: 1896 a further call was made, and none of the in- | stalments were paid. The Bank proved on I the estate of A. O'Neill for £1,978 12s (the coTlHor" 0 * with j but the estate could not pay, and Lewis O'Neill was also unable to pay the said debt. The estate of -Tames O'Neill waß abb to pay the deh„ and Allan O'Neill but for would have been indemnified bv the estateto seek to obtain an indemnity, and the flank had requested the plaintiff to obtain an indemnity for the payment of th« x t tts: defendant m their individual capacfty in pursuance of the Act any not as SteJs rf the will that the liability arose Wgaftel the death of James O'Neill, that the Bank Eat'tto V V h6 <lcfendants Personally, and thS Z WM «t«>PPea from setting up that the shares formed part, of James 0 fill's estate. His Honor suggested that as the amount involved was lar|e and the case was ,n important one it would be „ well to state it as a special caee, as it was almost sure to go to a higher court. Mc Campbell said that defendants preferred to have the advantage of His Honor's judl J"?-. Mr Button, for the plaintiff eafd that the object of the action was tenable the Ban* to get round the bankm,f who Bant M Hit *° e t£ 5■;•« onor aßKed ' lh< > claim of the plaintiff was this: that!assuming the estate "ofintL 53 th^'-tilf o cbimel position %„ Jl " ltt0 J Q Sakl tl,at ™» wi Ji'u admit that the action b ü ba,f 0{ ihe Bauk of New t-ealanrt. The shares in question were held in trust on the will of the late J. O'Neill. Mr CampbelU for the defends, said that the™ was a limitation to the arguments adduce by Mr Button, and it was this : that toe right to an indemnity existed only in, .he case of simple trusts ;n which a transfer or conveyance eould be demanded from the rustee at any time, wherea* the t this case was a special trust. After leeal! f%T e u ?J 8 , Honor.resered bis udgmfnt till he should look into the cases cited

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https://paperspast.natlib.govt.nz/newspapers/ESD18970917.2.7

Bibliographic details

AN IMPORTANT CASE., Issue 10422, 17 September 1897

Word Count
521

AN IMPORTANT CASE. Issue 10422, 17 September 1897

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