BANKRUPTCY COURT

Dominion, Volume 9, Issue 2637, 7 December 1915, Page 9

BANKRUPTCY COURT

DISPOSAL OF A DIVIDEND. , s 't't' n P of the Bankruptcy Court Was hold m Wellington yesterday before His Honour Mr. Justice Hoskine. Ihe business before tho Court concerned Joseph Myers, formerly of Wellington, who became bankrupt-in 1889, but had Ins bankruptcy annulled by His Honour the Chief Justice (Sir Robert btout), as he had paid his creditors 20s in the £.

M'!\ H. E. Evans, on behalf of the Official Assignee and bankrupt, made an application for direction as to the disposal of a dividend of £150 which had been allotted the South Pacific Loan'" and '/Investment Company, " and waa.npiv.jn the hands of the'-Public Trustee. «'Counsel explained that tlio company had gone into voluntary liquidation in 1902.: The Official' Assignee had handed the money to the Publie Trust Office, fcuul unless the monov Was disposed of within a year it would pass to the bankruptcy surplus account. Mr. Evans suggested that a directioii should be given which- would have the effect of transferring the monoy to tho Crown for- distribution to the- former shareholders' of the South Pacific Loan Company, as an act of grace. His Honour said that as the money was in possession, of the Public Triisteo the better courso would be for the At-lorney-Genoral to apply on behalf of the Crown in tho matter. The application was adjourned until Friday next.