A SPEEDY DISCHARGE.

New Zealand Herald, Volume LIX, Issue 18267, 7 December 1922, Page 11

A SPEEDY DISCHARGE.

TWO MONTHS A BANKRUPT. JUDGE ON THE CREDITORS. [Bl* TELEGRAPH. —OWN CORRESPONDENT.] CHRISTCHURCH. Wednesday. The Chief Justice, Sir Robert Stout, in tho'Supreme Court to-day granted Joseph Hamlet's discharge from bankruptcy, after some discussion with Hamlet's lawyer, Mr. Pi. Twyneham. When Mr. Twyneham applied for the discharge, His Honor said: "It seems rather an extraordinary case, you know." Mr. Twvneham said Hamlet had suffered enormous losses, and all his assets were tied up in his company. His Honor said the debtor apparently had £14,000 in £1 shares, but that asset seemed to have vanished, very little r/oing to th= credito-s. The debtor's income in 1921 was £4000. Mr. Twyneham, in reply to a remark by His Honor, said there had been big booms in the motor business in which the debtor was engaged. His Honor: If he's a wise man, he must have known that things were not going to last at such high rates, and he should have kept some money in hand. Mr. Twyneham: He certainly should have known. His Honor: It's not two months since he became bankrupt. The only thing I notice is that the term for the receipt of proofs will not expire until December 10. Was it advertised ? Mr. Twyneham: Yes, in two newspapers, instead of in onlv one. His Honor: It's only 15 days ago, you see, since the advertisement appeared. Mr. Twyneham: Practically every creditor lives in Christchurch. There are only two exceptions. The official assignee has all the assets in his hands. His Honor: If the creditors won't look after their business, it's not the Court'. l ; duty to do it. The discharge is granted. It's" a very quick discharge. All I can say is that, if the creditors allow it'to go on, it's their business.