THE CASE OF EUGENE LAUGIER

Star (Christchurch), Issue 9113, 19 December 1907, Page 1

THE CASE OF EUGENE LAUGIER

ADJUDICATED A BANKRUPT. An application for the adjudication of Eugene Laugier as a bankrupt was called again at. the Supreme Court • yesterday afternoon, after a day's adjournment, to allow. Laugier to prove the ownership of a number of boiidwarrants which he held, and put in as his assets, and declared were more by a thousand pounds than his debt. His Honor said the whole question Was whether the, goods belonged to Laugier absolutely or not. Laugier said that the goods were in his possession. He did not know whether English law was the same as the French, but under French law possession gave the title to the goods held until a claimant had proved his right. iv His Honor said that the creditor had made out his right, but Laugier -had not paid the debt or answered ' the : claim. Michaut also ' claimed the goods, and the ownership oould not be ascertained. , . The Official Assignee said that Laugier was i entitled -to credit for about £130 worth of goods in Dunedin. With those goods Laugier might be solvent. * Laugier asked to be allowed to assign Erivately, as in two or three months c could pay Michaut in full. Mr Weston, for the creditor, said that he oould not agree, fen behalf of Michaut, to a private assignment. The Official Assignee , had large powers, which would enable him to deal with the unsolved difficulties. The appointment of a private assignee would result in lengthy litigation. His Honor explained that the Official Assignee would, after Michaut's debt was paid, administer any surplus in '< Lauder's interests. Laugier contended that Michaut j would suffer nothing by tho assignment, < of the estate priyately. Jf he had < time he oould realise on the assets with , a large profit. l The Official Assignee stated that Laugier's idea was that a drapery • establishment should h« set up under . Laugier's management. He, as Offi- j cial Assignee, would not have time to < look after or arrange for such a thing. < Laugier said that he recognised that, i The estate could, if put into the hands - of an assignee, be treated in that way. ■ His Honor 6aid that he had ho power * to force a private assignee on the ! creditor's. So long as the creditors < were assured of 20s in the £ the mat- : ter was wholly one of the bankrupt's < interests, and there was no need for i the Assignee to taKe immediate steps. He suggested that an easier step than ! trying to realise on the goods would i be for Laugier to raise .a loan on the bonds, and nave the bankruptcy superseded in that way., , The petitioning creditor had asked for an order. bf adjudication, that Laugiesr was bankrupt. < No answer had been made, and an • order would be made accordingly. (