BANKRUPT SOLICITORS.

New Zealand Herald, Volume LXVI, Issue 20384, 12 October 1929, Page 12

BANKRUPT SOLICITORS.

'DISPOSAL OF DOCUMENTS.

PROBLEM FOR ASSIGNEE.

APPLICATION TO COURT.

SALE BY TENDER PROPOSED.

Tho winding-up of tho estates of two bankrupt solicitors, one of whom was sentenced to a term of imprisonment and tho other of whom escaped from the country, is presenting some special probloms to tho official assignee.

In- tho Supreme Court yesterday, Mr. ?V.'N. Hubble, on behalf of tho assignee, sought the assistance of Mr. Justice Smith in disposing of tho documents loft in tho estates of John Henry Victor Mansell arid H. R. Malcolm. The mothod proposed by Mr. Hubble was to call for tenders by advertisement for tho purchase by solicitors of the documents on conditions to be approved by tho Court. The actual sale would also require to bo approved by tho Court. Mr: Hubble said that Mansell and Maicoliri vvei'o two solicitors practising in .Atickland, both of vvhorn wont bankrupt about two years ago. In both cases tho official assignee was now almost ready to make the final, distribution. After all efforts had been matlo to trace the owners of the documents left in these estates there was still a considerable rcsiduo unclaimed. A number of them might never bo claimed. Tho assigneo had legal power to apply to the Court for opinion, advice or direction on any question respecting tho management of an estate and he now did so. His Honor: Have you ever had any similar application? Mr. Hubblo: 1 have had two, Your Honor, and we adopted the procedure I have suggested. His Honor: I take it that tho Law Society saw no objection to that in the paster—No, Your Honor. In past cases the successful tenderer has been a member of the Law Society. Tho sale is subject to the approval of the Court finally. His Honor said that-on the face of it the Law Society might, be a party interested.

Mr. Hubble said that had not occurred to him, but the custody of the documents was a matter of interest to the profession. He agreed to His Honor's proposal to refer tho matter to the council of the Law Society. "If it does not wish to offer, any observations to the Court on that method of procedure, I will accept • memorandum from it," said His Honor.