PREFERENTIAL PAYMENTS.
(Per United Pke?s Association.) Aucklamj, February 18. A case has occupied the attention of the Supreme Court which is of great interest to the mercantile community, and the decision of the court as to what constitutes preferential payment, or what does nor-, will be Juoktd forward to with great interest. The facts briefly are. these : E. L. Smiln, who subsequently became bankrupt, was licensee of the United Service Hotel. He was indebted to Mr J. G. Seccombe, brewer, on an old account for £320, and he gave two promissory notes for the amount, as he i wanted to change his brewer, or rather because IMr Beecombe became dissatisfied, .■» Smith obtained fccer frtm other brewers. Smith obtained a loan on mortgage from Messrs Jagger ud Co., and paid off. Mr Sseeotnbe before the bills matured. The official assignee seeks to establish that this was a preferential payment and invalid as against him, because Smith soon afterwards became bankrupt. His Honor (Mr Justice Conolly) reserved judgment.
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Otago Daily Times, Issue 8733, 20 February 1890, Page 2
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166PREFERENTIAL PAYMENTS. Otago Daily Times, Issue 8733, 20 February 1890, Page 2
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