THE BANKRUPTCY LAW.

Otago Daily Times, Issue 19966, 7 December 1926, Page 10

THE BANKRUPTCY LAW.

MORE STRINGENCY NEEDED FRUIT IMPORTERS’ TROUBLES. (Special to Daily Times.) AUCKLAND, December 6. The efforts that are at present being made by the chambers of commerce in New Zealand to have the bankruptcy law made more strict are strongly supported by the Auckland Fruit Importers’ Association. The fruit dealers are stated to find a proportion of the foreign element with whom they largely deal particularly troublesome. The owner of a fruit shop may prove himself honest and trustworthy, and win the confidence of the importers, and then sell out. The importers are not always notified of the change of ownership, and the new owner may obtain credit for a considerable sum under Ids predecessors name. The Importers’ Association, therefore, is cnedavouring to have a law relating to the notification of a change of ownership, and also to the keeping ot books, made more stringent. An instance of a man who, after a fare, might collect the insurance money on his premises, and go to another part of the Dominion without paying his creditors, is also cited by the association. It is stated that under the present law the man would not be guilty of any criminal act, so that the police could not take action. To have him made a bankrupt -would cost about £SO, and there would be little hope of recovering anything from him.