BANKRUPT ACQUITTED

Taranaki Daily News, 10 February 1933, Page 3

BANKRUPT ACQUITTED

DISCLOSURE NOT MADE. •A “HAD FORGOTTEN ABOUT IT.” Christchurch, Feb. 7, A plea of not guilty was entered by "j Victor Emanuel Charles Ingram, who was charged in the Supreme Court . to- y ;;;< day that at Ashburton, being adjudged a bankrupt on December 9, 1930, he failed to disclose to'the official , assignee his interest in the estate of his father, Jasper Charles Ingram. The Crown Prosecutor, Mr. A. T. Donnelly, said' that on July 15,} 1931, accused / had been paid £4OO for his’ share 1 ' in the estate and had not informed the official assignee or paid any of the money over. ■: Bankrupt obtained‘his discharge on July 31, 1931, but this was reversed by 'the Suprerne Court on November 19, after - the official assignee had heard of the bequest In statements made' to the official assignee accused said he had been unaware that he should have disclosed his interest in the estate. The 'money ■ /j//-'-had been spent .in travelling and gambling at the Grand National race meeting, : although he could not remember the names of any'horses he backed. James Hope Robertson, official _• as r signee, Christchurch, said that accused ; had been : declared a ' bankrupt on; his

own application. None of his statements had contained any reference' .to his father’s estate. 'The creditors eventually received 20s in the £l, but this had been as a result of litigation with th® . Public Trustee after the bankruptcy. Other minor assets which accused .had not revealed were then discovered. \ ,'Y For the defence Mr. C. V. Quigley said that Ingram was 63 years of age and ' jfa was in bad health. . At the time of filing he was worried and did not make full . disclosures. Later he remembered some shares he had and took them to the assignee of his own free will. The father had married a younger woman' than bankrupt himself. She was strong and healthy and so accused had really- not expected anything from the estate. There had been no fraudulent intention in not revealing this interest. Giving evidence accused said that his father’s will was so made out that if he (bankrupt) predeceased his stepmother his side of the family would not hav® got his interest As he could not borrow on it and was in bad health, it seemed he would never get the money, so he had completely forgotten about it. Cross-examined, he said ’he had’ Been a great racing follower -for years, but had never previously spent £2OO at a meeting. Although waiting to receive notice of the result of his application for discharge when he the money, he had not thought of informing the official assignee. Addressing the jury, Mr. Quigley said '. ■ the interest in the estate was a nebulous thing. The Crown Prosecutor said the real question was whether accused deliberately concealed his interest in his fath- , er’s estate and kept the money from the official assignee when he .'got it . - His Honour said the question was what inference was to.be drawn from ~ accused’s failure to disclose his interest in the estate. It was most important in , a business community that a bankrupt should not be allowed to conceal assets and spend money which should be paid to creditors. After 20 minutes’ retirement the jury- s returned a verdict of not guilty, and accused was discharged,