J. G. Ward's Liabilities.
THUS SALE AGAIN REFUSED. [By Telegraph.] (I\ >' Prc-sx Assoriati'W.) Dr-NKMx. This day. Judge Williams refused the application for the sale of J. G. Ward's liabilities to the Colonial Bank to Mr Bafcger. In the course of the judgment he said :— i 4 lf evidence brought forward discloses the priwo fa>-<V existence of grave commercial irregularities to which a debtor whose debts is proposed to be compromised was a party, and the effects of compromises would probably be to assist a debtor to escape bankruptcy and so prevent his conduct being further enquired into and adjudicated upon by a proper tribunal, I do not think the compromise should be sanctioned by the Court. To sanction the compromise iu such circumstances would be for the Court to allow itself to be made an instrument to protect persons guilty of commercial irregularities from legal consequences. If there is evidence of the existence of grave commercial irregularities then the better the terms of compromise offered the more probable is it that the offer is made with a view of hushing up such irregularities. The above contains what I conceive to be a correct statement of principle applicable to a case of this kind."
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Bibliographic details
Hastings Standard, Issue 331, 26 May 1897, Page 3
Word Count
203J. G. Ward's Liabilities. Hastings Standard, Issue 331, 26 May 1897, Page 3
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