IMPORTANT DECISION IN BANKRUPTCY.

Grey River Argus, Volume XXI, Issue 2724, 7 May 1877, Page 2

IMPORTANT DECISION IN BANKRUPTCY.

- Wellington, May 5. In a bankruptcy case this morning, the Chitf Justice gave a rather important decision. It appears that one Poll commenced au action against the debtor for damages, for injuries received through the debtor's negligence, and in January last had a verdict in his favnr for L 270 ; defendant subsequently obtained a rule nisi for a new trial, which rule was not discharged for a few days after the date of the filing of a deed of arrangement between the defendant and his creditors. There had been no entry or signing of [judgment prior to the date of the deed, and there has been none since. Poll attacked the deed of arrangement, and the question was whether he had alocusstandi upon which to object. The Court ruled

that a claim in respect of a judgment was not a debt contracted " unless there had been judgment prior the deed, because a verdict; without judgment did not create a liabibilty to a demand. On a subsidiary question the Chief Justice said he wa3 inclined to think that it is necessary for creditors to prove before they can vote at an arrangement meeting.