A CURIOUS CASE.

Taranaki Daily News, Volume LIV, Issue 20, 18 July 1911, Page 3

A CURIOUS CASE.

AN OPUXAKK BUTCHER'S DISAPPEARANCE. At, the Opunako Magistrate's Court on Thursday last there was heard an application arising out of the Landy case. Landy, who had been carrying on business as a butcher, suddenly disappeared some years ago. At the time of his departure, Landy owed J. R. Stewart and Co. about £485, and Landy's assets were about £400; Stewart's share of the assets would be about 3-llths more than the other creditors. Mr. Stewart entered into possession of the business; the proceedings were admittedly ultra vires. Subsequently, Mr. Stewart assigned the whole of his estate to three trustees. Mrs. Landy, wife of the absent man, now made a claim on the money in hand to the amount of £45. It was contended by Mr. Bennett, on behalf of Stewart, that whatever money Stewart and Co. held in Landy's estate, became assigned to the trustees in Stewart's estate. ~ The Magistrate: Oh, no, not trust money. Mr. Bennett: Stewart and Co. were owed £485, anil were justified in setting the share of the assets against the debt.

The Magistrate: According to your own account Stewart took the estate as trustee for the creditors. Mr. Bennett submitted Landy was bankrupt or insolvent. His Worship: How do you know? He was not made bankrupt, although he might be bankrupt on paper. If Landy came back he could take an action far damages." Mr. Bennett admitted that and that Stewart would have a charging order against Landy, and would stand as good a show as Landy in getting an order. They held £44 of Landy's assets and Landy owed Stewart £420. The Magistrate: We will take it, then, as an admission that Stewart has £4O of Landy's. Mr. Bennett: £4O of Landy's, as against a debt of £420 owing Stewart. The Magistrate: It would be a nica thing for the law to allow Mr. Stewart to step in and take the assets and leave Landy's wife and children in distress. J. R. Stewart, sworn: Prior to 1!)08 William Landy was doing business with his firm and got into debt for £485 4s sd. Landy left without consulting or warning anybody. He carried on the business of Landy's for some two or three months. Received for cash sales £llß 2s 3d. When carrying on the business received £l3O 3s for the sale of business and plant. Paid out £O3 15s Id for distribution, etc., when carrving on the business. Paid stock purchase £9O 18s, wages £lB. The Magistrate said he did not knowhow it would end. The whole thing was absolutely illegal. Mr. Bennett admitted that, but if Landy came back they would have a set-off.

The S.M.: There is £l3O in Stewart's hands. The thing is absolutely ridiculous. The sooner Mr. Stewart pays over that £l3O to some trustee for the Landv estate, the better it will be for ail parties. . ,; .

Mr. Gow, for .Mrs. Laridy, said they were led to believe, there was more than £44 in the estate. ■ In reply to the Magistrate, he said they were entitled to all moneys accruing.

His Worship: Your claim is for £45 and I can only make an order for that amount.

Order made accordingly. Abridged from Opunake Times. °