BANKRUPT ESTATES.

Feilding Star, Volume III, Issue 29, 23 September 1882, Page 2

BANKRUPT ESTATES.

As supplementing our remarks in our last issue, relative to the unsatisfactory condition of the Bankruptcy Law, we reprint from Hansard the following :-- j'• Mr Barbon asked tlie Government, Whether they would enforce sections J 112, to 114 of * The Debtors and Creditors Act, 1876,' so that those interested as creditors in bankrupt estates may have a more reasonable expectation ef ultimately sharing in the proceeds of such estates than in practice they now have ; and whether they will also endeavor to enforce section 209 of the said Act, so that trustees may, under its provisions, be relieved of unclaimed dividends or other undivided sui plus or money, the produce of such estates ? The matter ha I been brought under his notice by one of the leading law firms in New Zealand, and gentlemen in that profession had peculiar opportunities of judging of the operation of that Act. He would read an extract from the lettsr his correspondent had addressed to him on the subject. The extract was as follows : - * We find here that when a man files, and some accountant in bankruptcy is appointed, the debtor's estate is lost sight of, and the creditors have more difficulty in getting their share of it from the trustee than they had in getting it from tbe debtor.' " Mr Dice said that, " So far as he could understand, the Government had no power to interfere in the matter. The Government had no power to make the trustees hand over the funds entrusted to them." '