SUPREME COURT

Dominion, Volume 8, Issue 2340, 23 December 1914, Page 9

SUPREME COURT

AN ACTION SETTLED

A settlement was arrived at in tho Supreme Court yosterdav in the proceedings brought under the Bankruptcy Act, 1903, by Mr. C. W. Nielsen, counsel for the Official Assignee, in Bankruptcy, of the property of Alexander Thomas M'Williain, livery stablckeeper, of Cambridge Terraco, Wellington, to set asido as void the sale and transfer of certain of the bankrupt's property. The actual relief sought was an order setting aside as void a sale and transfer from the bankrupt to Frank Boffa, liair--1 dresser, of "Wellington, dated February 9, 1914, and a bailment from _ Frank Boffa to tho bankrupt of certain plant and chattels (including three landaus and seven horses), ana declaring that the chattels referred to are assets m the bankrupt's estate." The grounds of the motion were that the sale was not a transfer of property made in good faith for valuable consideration, but was a fraudulent transfer by the bankrupt of his property for the purposo of defeating the creditors; that tho transaction was carried out for the purpose of preferring Frank Boffa (one of the creditors), and various other grounds disclosed in the affidavits of C. "W. Nielsen. and J. M. Ferguson, settler, of Wellington. Any suggestion of fraud had been denied by M'lVilliam, for whom Mr. H. h. Machell had appeared on Monday to oppose the motion. , On Monday His Honour the Chief Justice (Sir Robert Stout) heard evidence and subsequently granted an adjournment of the motion in order that the parties might have an opportunity of settling the matter. A settlement was announced yesterday, and an order was accordingly made stipulating that the sum of £52 ss. should be paid to Boffa out of tho receipts of the sale of the goods given to him .and in return Boffa should give up all the property received by him tram M'William, with the exception of condemned horses (if any). Each party is to pay its own costs, but any amount coming to the Official Assignee after payment of the sum of £52 ss. is to be charged with the costs of the proceedings.