DEATH OF A BANKRUPT.

Taranaki Daily News, 27 September 1924, Page 5

DEATH OF A BANKRUPT.

QUESTION OF INSURANCE. WHO TAKES THE MONEY? By Telegraph—Press Association. Auckland, Sept. 26. Mr. Justice Herdman was asked for an older in connection with an accident life insurance policy taken out by Neils Winter Albertson, a deceased bankrupt, who died as the result of injuries at a Railway level crossing. The London and Lancashire Insurance Company was ready to pay the £lOOO due under the policy when the court ordered to whom payment should bo made. The question was whether the money should be paid to the wife and family or to the creditors of bankrupt’s estate. Counsel for the widow stated that the policy was taken out by deceased to provide for his dependents in the event of his death. Counsel for the Official Assignee said deceased’s employer, Woodham, paid the premiums of the policy, which was for twelve months only, and not protected in the same way as a life policy. His Honour admitted it was very hard on the widow, but the court was not a benevolent society, and he made an order that the assignee should receive £lOOO, costs to be paid out of the estate.