DISCHARGE REFUSED

Timaru Herald, Volume CXXXVII, Issue 19245, 27 July 1932, Page 8

DISCHARGE REFUSED

BANKRUPTCY OF M. E. FINLAYSON. In the Supreme Court in Timaru yesterday, before His Honour the Chief Justice (Sir Michael Myers) the motion of Minnie Ethel Finlayson foxdischarge from bankruptcy was opposed by the Official Assignee and three or four Christchurch creditors. Counsel supporting the motion, said that although there was apposition to the discharge, he considered that there was really nothing to be gained by keeping the bankruptcy open. His Honour asked if there was anything to be gained by granting the discharge. “Dees she want to go into business again?” “No,” replied counsel. “If she does, I am not going to let her,” said His Honour. “I think it better she should be an employees rather than in business on her own. The bankruptcy is unsatisfactory, and I cannot grant the discharge.” Counsel suggested that thei-e was no misconduct on the part of the bankrupt. His Honour reiterated that the bankruptcy was a very unsatisfactory one. “Amongst various things, this is what happened. Apparently she was doing substantial business in hire and purchase, pledging instruments so that the money should have gone to the mortgagees, but apparently she received the money, and used it in the business.” Counsel argued that his inference in the Assignee’s report was not quite fair to the bankrupt. She had borrowed money against the instruments, but when the payments were not received from the bailees, she had to find the money out of her own pocket. His Honour: “That is one element of it. I think it is not in the best interests of the commercial community that she should be allowed to trade.” Counsel asked if His Honour would grant a suspension order. His Honour declined to accede to this request, stating that he thought it better that he should refuse discharge.