BREACH OF BANKRUPTCY ACT

Dominion, Volume 20, Issue 44, 16 November 1926, Page 4

BREACH OF BANKRUPTCY ACT

RAETIHI FARMER’S ADMISSION. Dominion Special. Wanganui, November 15. On the information of E. M. Silk (deputy-official assignee), Frederick Toft, a fanner, of Raetihi, was charged, in the Magistrate’s Court to-day, with a breach of the Bankruptcy Act, obtaining credit for Upwards of £2O from John Stephen Walsh without informing the latter that he was an undischarged bankiupt, also with obtaining credit from John Madsen and from Robert Stephen Brown. In outlining the case Mr Izard said that defendant’s bankruptcy occurred in June, 1923. The liabilities were £1135, and the assets realised some £23. Defendant had promised to pay his creditors 10s. in the £1 within three years, but no such payments had been received. He borrowed £3O from Madsen, a storekeeper, staing that he was short of money, and that he had £9OO odd in commissions coming to him. He also obtained £27 from Brown, a storekeeper, and £34 from Walsh, from whom he bought four cows, saying that he -would pay for them the next day. The cows were subsequently sold to another person. Mr. Izard said that defendant had elected to plead guiltv to obtaining the money from Madsen, and it was not proposed to proceed with the other charges. After hearing accused’s statement the Magistrate deferred sentence till to-morrow.