DEBTOR’S ASSIGNMENT

Waikato Times, Volume 116, Issue 19456, 21 December 1934, Page 3

DEBTOR’S ASSIGNMENT

SUPREME COURT ACTION. MOTION FOR ORDER DISMISSED. (By Telegraph.—Press Association.) WELL TNG TO IST, Thursday. . Holding- 'that an assignment of £535 ■by Archibald Walter McCall in 1932 was induced in good faith and without knowledge that McCall was insolvent, Mr Justice Ostler dismissed a motion for a,n order declaring the assignment fraudulent and void as against the Official Assignee. McColl was declared a bankrupt in August this year. He had been 'accountant and auditor of the Hope Gibbons family. The assignment was procured when it was discovered that McColl owed monev to members of the Hope Gibbons’ staff, but the next day it was discovered! that he had been systematically stealing substantial sums, and later 'still, after he had been, imprisoned,lit was found that the total •thefts amounted to £3721, and t' at tire indebtedness at the date t-f the assignment was over £6OOO, in addition to debts .satisfied by the assignment.

His Honour said the facts proved that the family had discharged the onus ol’ proving that they acted in good faith, and the assignment was protected under Section 52 of the Bankruptcy Act.