IN BANKRUPTCY.

Colonist, Volume LI, Issue 12470, 22 February 1909, Page 2

IN BANKRUPTCY.

"■" ' - ♦ ••- - IN THE ESTATE OF J. L. ROLLET. : JUDGMENTPOR THE DISTRICT Iv ; : ; OFFICIAL ASSIGNEE. At the last sittings of .. the District Court the Deputy " Official Assignee, iiv the estate of J.L. .-P.- Rollet. (formerly of Nelson), a bankrupt, applied for an order that the sum of £1000 together with . interest , at the rate. 'of six per cent, from December 3rd 1907, which/was^ paid by the bankrupt to the firm of Levien and Rollet, be paid by , the latter to the Deputy Official Assignee on the grounds that the money belonged to aim as Deputy Official Assignee. There was an alternative that if it" was' held that a completed gift of £1000 had' been made to Eleanor Alice ■ Rollet counsel would move for an order, that the settlement of the sum of £1000 made 'by bankrup.t on or about: sth December 190 1, be declared void as against the Deputy Official Assignee and that-Elean-or Alice Rollet pay, .forthwith,. 'to the Deputy Official. Assignee, .-the.. sum. ot £1000 on the grounds that^the settlement made before or in. consideration of marriage, or in, favour of a purchaser or encumbrancer, in good.taith, or for valuable -consideration, or a settlement made on or /before the wife of the settler of property which had accrued to the settler. Mr C. R. 1* ell appeared" Edr the -Deputy-Official. -Assignee, and Mr A. T. Magmnity for Mrs Itollef and Mr- Levien. It. wat o creed by counsel from evidence and aamissions-th'af the' Tadmor property was puichased.by RpUet for Mrs Rollet, when Rollet was more than. aoivent; the .£1000T»id by Rollet into. Ibe firm of Levien and RoUfet tq.th,. credit of Mrs Rollet was paid by JJos-, kt when lie was .more than^solventRollet gave security to the Bank . to Sue tho:acc6unt of firm. of Levien and Rollet prior to August 15th 1908 So far as the Bank was concerned, and- so- far aft, other .creditors of Lev en and- Rollet were concerned !^S s &°Sst>S. Rt fc Eu^o»S« S f tween the partners themselves .he & wife's reauest, and on -jW.Sife itv ' The monies reoeivecL by llonei 24th September 1908- ..The ; ,*,iuw vas ei ven on December. 5tU .• ; ■ lai* soil question was ; therefore " > yas the transSn re the ;£IOOO ;Vahd under, section 75a of'the. Bankruptcy Act, 1908," and this : again could be . reduced to tlie question whether the alleged gift of : £iooowas payment ;of propei-ty, because if it was the bank-

ruptcy having taken place within one year from date ,it was ,void as against the Assignee. His Honor was of opinion that the £1000 put into the firm by bankrupt was not an absolute free gift to his wife, but was entered in the firm's books in his wife's name for collateral reasons and not for the purpose of making an unconditional gift of the money to the wife, for her then present use. His Honor was "therefore of opinion that the transaction with regard to the £1000 was a settlement of property (not coming within the exception mentioned in sec 75) 'made within a year of the bankruptcy of the settlor, and is void against the Assignee, and do order that Eleanor Alice Rollet do pay forthwith the Deputy Official . Assignee in the estate of J. L.. Rollet, and also the sum of £15 15s and disbursements costs of this motion." The motion to admit proof of debt by the firm of Levieii and Rollet would stand adjourned to the next sittings of the District Court; (1) -to ascertain whether an appeal could be lodged against the judgment ; and . (2) to ascertain .whether the 'Deputy Official Assignee Gould take any proceedings in regard to the £1300 paid by bankrupt to or for the firm of Levien .and Rollet. I ' •' " V' " " = ■■-.>-