A Caution to Bankrupts.
It may nob be generally known that under a provision of the new Bankruptcy Act a bankrupt is re« quired, under pain of being committed for contempt of Court, to make application for an order of discharge within four months from his bankrnptcy. A local bankrupt appeared before the Court to show cause why he should not be com* mitted for contempt for having failed to conform to the law in this respect. He pleaded want of means. The Assignee, who said he was really the author of the provision in question, pointed out that in cases of want of means the Court had power to remit all fees. It was necessary that bankrupts should not be allowed to postpone indefinitely their applications for discbarge. Otherwise they might run into fresh business engagements and contract new liabilities without having passed through the Court. Mr Justice Richmond explained to the bankrupt that so long as he failed to obtain his discharge any property he might acquire would not legally belong to him, but could be seized by the Assignee for the benefit ot his creditors. The motion was then postponed in order to enable the bankrupt to apply for hi 3 discharge at the next sitting of the Court. — Times. __________
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Manawatu Herald, 12 April 1894, Page 3
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213A Caution to Bankrupts. Manawatu Herald, 12 April 1894, Page 3
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