PATENT ATTORNEY'S BANKRUPTCY

Press, Volume LXXI, Issue 21418, 9 March 1935, Page 8

PATENT ATTORNEY'S BANKRUPTCY

♦ AN EMBEZZLER BLAMED (I'RZSS ASSOCIATION TELEGKA.IT.) DUNEDIN, March'B. A deliciency of more than £I3OO was shown in the bankrupt estate of the late Robert Wales, patent attorney, at a creditors' meeting held yesterday. The Official Assignee said the number of creditors was very large, mostly consisting of persons who had entrusted Wales with the task of obtaining patents. The public was entitled to ask why the position was not known earlier. The fact was that about £IOOO belonging to Wales's Wellington office had been embezzled. Mr Wales had not prosecuted the offender because, through the nature of his business, he had feared actions for damages. "This man embezzled the money in a miserable way," said the assignee, "and landed Mr Wales in this trouble. The whole thing was a tragedy as far Mr Wales's end." The position as far as the patents were concerned was most unfortunate, not only for the local creditors, but also for others more distant. The position seemed to be that patents in Wales's hands had actually lapsed. The estate was left in the hands of i the Official Assignee. •