AN IMPORTANT BANKRUPTCY DECISION.
A case that should act as a warning to creditors who are too eager to get their money, utterly regardless of the fate of others was decided in the bankruptcy Court, Christchurch, on Wednesday last, by his Honor Mr Justice Johnston. A debtor having sold his business, stock-in-trade, plant, &c., in fact everything that could be realised upon, proceeded to divide bis assets in cash amongst a favoured few of his creditors, filed his petition, and left the rest lamenting. The creditors who were thus paid in full gave receipts in due form, and unfortunately for them the payments were made within the three months of the filing. Under clause 79 this renders all such payments void as against the Official Assignee. That officer has now obtained the necessary order, and those gentlemen who have been paid iu full, leaving others nil, will have the felicity of refunding the amounts for the general benefit of the creditors, plus costs. — Press.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/KUMAT18840908.2.13
Bibliographic details
Kumara Times, Issue 2562, 8 September 1884, Page 3
Word Count
164AN IMPORTANT BANKRUPTCY DECISION. Kumara Times, Issue 2562, 8 September 1884, Page 3
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in