WYLIE'S BANKRUPTCY.

New Zealand Herald, Volume LIX, Issue 18272, 13 December 1922, Page 11

WYLIE'S BANKRUPTCY.

ANNULMENT APPLIED FOR.

THE VISIT TO SYDNEY.

DEBTOR'S EXPLANATION.

An application was made yesterday before. Mr. Justice Stringer, sitting in the Bankruptcy Court, on behalf of Douglas Stuart Wylie (Mr. Hunt), for the annulment of the order of adjudication made against him on August 16 last, when he was in Sydney. The application was opposed by Mr. Meredith, on behalf of the Official Assignee, and of the petitioning creditor. An application was made on December 1 for a rescission of the order, and His Honor then agreed that the whole matter should be dealt with anew, and made an order for rehearing. However, when the application came up yesterday, His Honor, after hearing argument, ruled that the proper manner in which to treat the application would be as one for annulment. Assets and Liabilities. Counsel for the applicant said certain material evidence had been discovered sines the August hearing. At that time the bankrupt had been absent and was now present. It could bo shown that at the time of the adjudication the debtor's assets considerably exceeded his liabilities. It had been alleged at that time that the debts amounted to £900 or £1000, and that the debtor had practically no assets in New Zealand. He could now show that the debts did not exceed £706, and that at the time of the adjudication, and at the time of the debtor's departure from New Zealand, the assets were in excess of that sum. : The intention of Wylie to leave New Zealand was known to hundreds of people, and it was absurd to suggest that because he happened to leave a few days earlier than he at first intended he meant to delay his creditors. The debtor.* in the witness box, detailed his financial transactions, explaining that when he left Now Zealand he intended going to England on a health trip on the advice of his doctor, and that prior to leaving he made adequate arrangements for meeting his financial obligations. In reply to Mr. Meredith the debtor said that "when he left Auckland he had £10 or £15, and a cheque for £60 which his mother had; given him. He also had a draft for £65, which was the property of a lady who had gone to Sydney ahead of him. Mr. Meredith: And you expected to travel to England and afterwards to America on that sum ? Passages Booked to England. Witness explained that his mother, who lived in England, had offered to advance further cash if he required it, and he had relatives on whom he could rely. He was depending on this if he failed to make any money out of company promotion in England. Mr. Meredith: Had you arranged to meet anyone in Sydney ?—Yes, a lady friend. There had been trouble over the same lady before ?—Yes, I was assaulted by tier relatives in my office. Did you not think it unwise after that affair to be further associated with her?— I thought it a suitable way of getting back on them. Pressed to say whether he was living in Sydney with her, witness declined to answer. Mr. Meredith insisted that the, debtor was leaving New Zealand with this woman, and the chances were that he would never have come back. The witness finally admitted that they were living together in Sydney, and said they had both booked to England by the same steamer. His Honor said he could not understand why the creditors wished to keep the debtor a bankrupt. It was apparent from the evidence, that he was solvent, and if the order were annulled the bar to following his employment as an accountant would be removed. Some security could be obtained to guarantee his remaining in New Zealand. Friends' Guarantee Expected. Mr. Meredith said the opinion of the Official Assignee was that the debtor could not pay 20s in the £. Counsel expressed the fear that once free the debtor would take the first opportunity of again leaving without meeting the demands of his creditors, who did not wish to be compelled to again pursue him. There was the further point that although on June 20 the debtor arranged to meet one of his creditors on June 24, he at that time had his passport and ticket by the Moeraki, which was to take him awav on June 22. Mr. Hunt said he thought that friends of the debtor would come forward and give a guarantee sufficient to enable, creditors to receive 20s in the £. The hearing was accordingly adjourned until 11 a.m. to-day on the understanding that an endeavour would be made to arrive at a satisfactory arrangement.