DOMINION NEWS

Grey River Argus, 19 September 1932, Page 7

DOMINION NEWS

CREDITORS BEFORE RELATIVES. (Per Press Association.) WELLINGTON, Sept. 16. The principal question raised in an originating summons, heard recently, by Mr Justice McGregor, in the Supreme Court, was whether, under the will of the late Joseph Dwyer, hotel proprietor £2400 of the testator’s life insurance was protected from creditors and went to the widow and son, or whether it was available to the creditors. The Court was asked to determine whether, having regard to the effect of Section 65 of the Life Insurance Act, 1908, the testator had, or had not, used express words especially referring to his life policy moneys, and had declared that they should be applied in payment of his debts. In a reserved decision delivered today, His Honour held that the life insurance moneys were available to the creditors. He said: “In the will now before the Court, there undoubtedly are such express words, and 1 think they must be given effect to. By adopting this interpretation, I feel that I am effectuating the clearly-ex-pressed wish of the testator, and, at the same time, I am declaring judicially that the precise words of this testator in the will do not mean what they say.”