CRITICISM OF BANKRUPT

Taranaki Daily News, 22 November 1929, Page 11

CRITICISM OF BANKRUPT

COURT REFUSES DISCHARGE STRONG COMMENT BY THE JUDGE PURCHASE. OF EXPENSIVE MOTOR By Telegraph.—Press Association. Gisborne, Last Night. At the Supreme Court to-day Henry William Trotman, an insurance agent, who moved for his discharge from bankruptcy, was the subject of strong comment by Mr. Justice Ostler and the application was refused. Trotman was not represented by counsel, while Mr. Barnard appeared for the creditor who opposed discharge. His Honour said the bankrupt was previously, in 1997 or 1909, forced to seek the protection of the Bankruptcy a art. In November, 1927, he left Dunin owing, on his own admission, £5OO. In March of that year, although owing a large sum, he traded in a car for £335, which must have been a valuable one, and bought another worth £625. He said it was as a soft of advertisement for his business, but all his Honour could say was that he should have known perfectly well he could not afford it and that it was gross extravagance. Surely that first car was quite good enough for his canvassing business. At this stage Trotman attempted to make some further explanations.' His Honour: You will find yourself in gaol to-night if. you are not careful. Do not interrupt. His Honour added that in November, 1927, Trotman came to Gisborne and by Febryury, 1929, .his debts had. increased £BOO. ..When. he filed, two months ago his debt's totalled over £9oo—this being admitted, by bankrupt yet during that time, less than two years, he had earned £B68 —over £4OO a year but was still further in debt. Surely no prudent man would have carried on that way. It was obvious that he was incurring debts, without any reasonable hope of paying them.