BANKRUPTCY COURT

Evening Star, Issue 21711, 4 May 1934, Page 11

BANKRUPTCY COURT

APPLICATIONS FOR DISCHARGE In the Supreme Court this morning His Honour Mr Justice Kennedy heard several applications for discharge from bankruptcy. NOVEL POINT RAISED. John Watson Maxwell applied for his discharge from bankruptcy, Mr P. S. Anderson appearing in support of the application. Mr G. T. Baylce appeared to oppose the application, representing five of the creditors —Cossens and Black Ltd., Scott, Stanley Sign Company, Robert John Blackwood, Karra Bros Ltd., and Hunt and White. The Official Assignee (Mr J. M. Adam) said that he understood there was nothing against the conduct of bankrupt at all. Mr Anderson said that a rather novel point had been raised regarding this motion for, discharge. This concerned certain inquiries to be made under the Motor Transport regulations. As ho had had notice of the point only yesterday afternoon, counsel asked that the matter bo held over and tajren when His Honour returned from Invercargill. Tho bankrupt carried on a carrying business from Dunedin to Roxburgh, .but break-downs to a sec-ond-hand truck had been responsible for his getting into the position he did, as Tic had to keep the service going. All available assets had been disposed of. The license bankrupt had was still held in his name. Mr Anderson said that it seemed, from what his learned friend had told him, that the license was now an asset, perhaps of doubtful value, but one that should be inquired into to see if it had any worth. The service had to be carried on continuously, and the wife of bankrupt had bought a new truck with borrowed money and carried on the service while bankrupt had retained the license. . Mr Baylee and the assignee did not oppose an adjournment, and His Honour accordingly" adjourned the case until June 5, at 10.30 a.ra. SUM TO BE PAID. Appearing in support of the application for the discharge of George Ambrose Flannery, Air 0. B. Barrowclough said that bankrupt had recently received an interest in his father’s estate. a farm property in Central Otago. At the present time tho value of the assets was indefinite, but arrangements had been made for the payment of £233, representing 12s 6d in tho £. Counsel asked for the discharge on condition that this sum was paid, tho discharge to lake effect ironi the timo

the money was paid. It would be paid that day. , , . The Official Assignee remarked that he would be entirely satisfied with this arrangement. , , . • Discharge was granted by ills Honour on those conditions. NO OBJECTIONS. John Fraser, of Otekaike, applied for discharge, Mr E. A. Duncan, for the applicant, stating that there were only two creditors, and he understood that there were no objections from them to the discharge. He understood also that there was no objection from the Official Assignee at Oamaru. Discharge was granted. CREDITORS’ RESOLUTION. A discharge was granted in the case of Walter Paterson, Mr W. Ward, who appeared for the applicant, stating that the creditors had passed a resolution advocating that the discharge,should be facilitated. SIX MONTHS’ ADJOURNMENT. Hubert Wright (Mr R. Nichol) applied for his discharge. Mr Nichol said the applicant had taken over a jewellery business.- and until recently bad run it successfully. Early in 1931, however, he had suffered a severe reverse through burglary. He estimated his losses at £3,000, only £125 worth of goods having been recovered Ho was in indifferent health, and later took on a small business from which the earnings were very small. It was suggested that he had not kept proper books, but the fact was that he transacted his business' on a cash basis and put all the takings into the bank. It was stated that his financial affairs were ascertainable. The Official Assignee said it was true that the bankrupt bad lost a good deal through the burglary, but there was no check on what he had actually lost, and as a result of an accountant’s investigations the loss had been estimated at £1,300. After reviewing the case Mr Adam said the creditors were not altogether satisfied, and he gathered that they thought the application was somewhat premature. On the grounds that he had failed to keep proper books and that he had made? to a creditor a statement that he later admitted was incorrect, the application was opposed at this time. His Honour refused immediate discharge and adjourned the matter for six mouths. V