LOSSES IN LAND DEALS.

New Zealand Herald, Volume LX, Issue 18457, 21 July 1923, Page 12

LOSSES IN LAND DEALS.

BANKRUPT WANTS DISCHARGE Xhe misfortunes of a man who had em- ■ barked' in property transactions were described in the Bankruptcy Court before Mr. Justice Herdm.an yesterday when George James Finch, a farmer, of Northcote, applied for his discharge, which was \ opposed by the one creditor, for whom I Mr. Macnab appeared.,' Tho official assignee said he sow no real 'ground for opposinc. the discharge. Debtor's money! had disappeared in land transactions. He had hoped to obtain assistance from the Government Advances Department, but did not do 80. He lout his deposit on a , property and also a launch he had owned. ; /: ;.. v; Mr. Macnab said that the creditor, Laura Frances, Martin, took proceedmes against debtor as ho had paid a : deposit but had not completed,the transaction. She was successful in her action.

His Honor: She 'got her property back and the man's deposit. ':■ Mr. Macnab said bankrupt went into possession of the : property and, received rent ; for it for one • yaar.' ' After judgment was obtained :• against him, instead of taking steps to liquidate hie liability he went into : further speculation. ''..■■•■•: His Honor kid the creditor had little to complain about, Debtor bad a wife and family and' had to live somewhere. : '~ . The official ;• assignee said bankrupt had taken a lease of a property with a compulsory purchasing; clause, and he had come to the conclusion it was of -no value to the estate. ~ ~ -.; His Honor adjourned the case until next week, remarking that if the : official assignee was not opposed to it a discharge would be granted. ■;,.:'-; ; ■ ■:, :,■ '•<■; :• . ,>,