BANKRUPTCY CASE.

Manawatu Standard, Volume XLIV, Issue 1179, 29 November 1924, Page 5

BANKRUPTCY CASE.

DISCHARGE IN AUCKLAND. per Press Assoeialioi. AUCKLAND, Nov. 20. la the Supreme Court Mr Justice Stringer grunted a discharge in bankruptcy in the private estate of Edward South by 'Wheeler. The Official Assignee said that nothing unsatisfactory was alleged as to Wheeler’s private bankruptcy, but there were unsatisfactory features in connection with Wheeler’s Stores, Ltd., which was really a one-man concern and Wheeler was responsible for what was done. He considered that debtor’s conduct with regard to the company should be considered by the court. He expressed the view that the debtor had shown a reckless plunging spirit. The company would pay only about 5s in the pound. The-debtor had practically all the shares. His Honour said it seemed from the liquidators’ report that Wheeler was exonerated to a large extent. It may have been that Wheeler’s inability to maintain his personal supervision was to a large extent responsible. He did not think ho would be justified in refusing debtor’s personal discharge. II there had been any irregularity as to the company it could ho dealt with under the Companies Act.