BUILDERS' BANKRUPTCY

Dominion, Volume 11, Issue 281, 16 August 1918, Page 6

BUILDERS' BANKRUPTCY

LIEN-HOLDERS' EIGHTS. Beforo His Honour the Chief Justice (Sir Robert Stout) in the Supreme Court yesterday morning, a case arising out of the bankruptcy in Napier of a firm of builders, Duncnu and Abbott 1 , was heard. The firm were the contractors for tho erection of new premises for the Bank of New Zealand at . Featherston. and lvero adjudged bankrust in February, 1(117, and various sub-contractors made claims on liens on the Bank of New Zealand. The contract had not been completed at. the date of tho bankruptcy, and the bank got another firm to finish the work, lodging in Court the balance of the contract money. The proceedings concorned tho validity of one of the liens, that lodged by Arthur Wade, of Hastings, for plumbing and electric light, and amounting to J:32-3. The point at ißSue was whether the claimant had lost his lien by taking promissory notes at ■■(foe timo proceedings were commenced, which had been dishonoured before 110- ~ tice of lien, and were outstanding in the ( hands of third parties. After hearing argument, His Honour reserved decision. Sir John Findlay, K.C., with him Mr. L. L.'E. Edwards, appeared for tho Bank of New Zealand, Mr. A. Vf. Blair for the Deputy Official Assignee, and Mr. H. IT. von Haaqt for Arthur Wade. Other lienholders whose claims were not disputed •were also represented.