PROBLEMS FOR ASSIGNEE

Taranaki Daily News, 12 October 1929, Page 9

PROBLEMS FOR ASSIGNEE

BANKRUPT SOLICITORS’ ESTATES. AID OF THE COURT INVOKED. (By Wire—Special to News.) Auckland, Last Night. The winding-up of the estates of two bankrupt solicitors, one of whom was sentenced to a term of imprisonment and the other of whom escaped from the country, is presenting some special problems' to the Official Assignee. In the Supreme Court to-day Mr. Hubble, on behalf of the assignee, sought the assistance of Mr. Justice Smith in disposing of documents left in the estates of John Henry Victor Mansell and H. R. Malcolm. The method proposed by Mr. Hubble was $.O call for tenders by advertisement for the purchase by solicitors of the documents on conditions to be approved by the court. The actual sale would also require to be approved by the court. Mr. Hubble said that Mansell ami Malcolm were two solicitors practising in Auckland, both of whom went bankrupt about two years ago. In both cases the Official Assignee was now almost ready to make the final distribution. After all efforts had been made to trace the owners of the documents left in these' estates there was still a considerable residue unclaimed. A number of them might never be' claimed. The assignee had legal power to apply to the court for opinion, advice or direction on any question respecting the management of an estate, and he now did so' his. His Honour: Have you. ever had any similar application? Mr. Hubble: I have had two, youi Honour, and we adopted the procedureI have suggested.

Hie Honour: I take it that the Law Society saw no objection to that in the past. Mr. Hubble: No, your Honour. In the past cases the successful tenderer has been a member of the Law Society. The sale is subject to the approval of the court. His Honour said that on the face of it the Law Society might be the party interested. Mr. Hubble said that had not occurred to him, but the custody of the documents wag a matter of interest to the profession. He agreed to his Honour’s proposal to refer the matter to the council of the Law Society. “If it does not wish to offer any observations to the court on that method of procedure I would accept a memorandum from it,” said his Honour.