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BANKRUPTCY COURT

4 BESERVED JUDGMENT. Hi,s Honour the Chief Justice (Sir Robert Stout) delivered reserved judgment. yesterday morning in tlie case of the Official Assignee in Bankruptcy v. Mrs. Walker, wife of John William Walker, • a 'bankrupt storekeeper, who had been in business at Ormondville. The j Assignee sought to set aside a settlement I of property made by the bankrupt on j his ivifo prior to the bankruptcy on the ground that such settlement could not be sustained unless the settlor, at the tinio of making the settlement, was able, to pay all his debts without the aid of the property in question. His Honour, after reviewing the facte, held that t.ho bankrupt had not proved to him that lie had money in hand or coming to him sufficient to pay his creditors at the time he made the settlement of proertv of -10(1 acres on his wife. If he had been successful in his speculation with stock end forming, no doubt he would have been able to pay his creditors, but he was not successful, and His Honour did not think the Act meant a future liability to pay. hut a present liability to pay, and the making a.way of that ,|Ofl acres of land made bis ability less than it was before he made the gift. Mm. Walker had. not nroved to his satisfaction that her husband was able, to pay all his debts without the aid of the'properly settled on i her. Ho did not suggest that Walker I deliberately meant to injure or to defraud his creditors. He no doubt thought lie would be able to nay them, and that the speculation in which he was about to engage os a sheep farmer would bo successful. But he did not read the section of the Act in such a way as to say that this gift was valid, because he was of oninion that, the gift of <100 nerns did not leave him able to nav his creditors. His Honour therefore held that Hie settlement as against the Assignee was void. At. th» •b'wiiig Mr. 0. 1!. TJe""e and Mr: 0. W. Jfeil'en appeared for the Official Assignee, and Mr. M. Myers for Mrs. Walker.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19191107.2.22

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 13, Issue 37, 7 November 1919, Page 5

Word count
Tapeke kupu
370

BANKRUPTCY COURT Dominion, Volume 13, Issue 37, 7 November 1919, Page 5

BANKRUPTCY COURT Dominion, Volume 13, Issue 37, 7 November 1919, Page 5

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