DISTRICT COURT.

Nelson Evening Mail, Volume XLIII, Issue XLIII, 29 January 1909, Page 2

DISTRICT COURT.

(Before His Honor Judge Haselden.) FRIDAY, JANUARY 29, 1908. /BANKRUPTCY JURISDICTION. The District Court sittings coinmenccd at the Courthouse this morning. •„ There was no criminal business;' but several bankruptcy eases were set down for hearing. APPLICATION FOR DISCHARGE. Alexander Thomas Stono applied for hia discharge in bankruptcy. Mr A. T. Maginnity appeared for the bankrupt, Mr Hayes appeared for George Shaw and three other creditors to oppose tho application. The application was placod further down the list, THE ROLLET BANKRUPTCY. Three applications were made to tlio Court ioi connection with the bankruptcy of Joseph L. F, Rollet, viz., (1) To vest certain.. assets disclaimed by tho Deputy Official Assignee in William Wishaw (a partner with Rollet in certain land transactions); (2) To order Levien and Rollet to pay tho D.O.A. £1000 alleged to bo assets of J. L. F. Rollet, or as an alternative, that Alico Eleanor Rollet bo ordered to pay over that sum; (3) To make an order in repard to proof of debt of Levien and ; Eqllet. Mr C. R. Foil appeared for the DS.P.A., and Mr A. T. Maginnity for the bankrupt, for Mrs Rollet, for Levion and Rollet, aud for S. Levien. Mr Fell, in opening, said that bankrupt had been a farmer at the Sherry, where he had a largo property. His wife had no property of her own. Bankrupt in June, 1907, purchased property in Tadmor, paying for iUhiinself, but placing it in his wife's name, as he was holding so much land at the Sherry that he could not also hold the Tadmor property. In October, 1907, bankrupt entered iuto partnerhip negotiations with F. M. Levien, tho capital to bo contributed in equal shares by the partners; but if one partner put in more than the other, the amount was to bo considered as a debt. Bankrupt paid £1000 into the partnership — £200 by bankrupt's own cheque, and £800 by a cheque by the Dixon Investment Company on tho bankrupt's Sherry property. This £1000, bankrupt says, was a gift to Mrs •Rollet, and in the firm's ledger Mrs Rollet was credited with £1000. Bankrupt agroed to exchange hia Sherry property for the Arcadia Hotel property at Wellington, and he also bought two other properties in Wellington. Bankrupt became involved in financial difficulties, and was eventually adjudicated a bankrupt. On sth May, 1908, the partnership between Levien and Rollet was dissolved; but the deed of dissolution was stamped on July sth. No notice of the dissolution was given at the time — it was not known till August, when it was gazetted. Mrs Eollet purchased the bankrupt's share in tho business for £150; but no money passed between Mr and Mrs Rollet. Mr Fell called Joseph Leonard Fontin Rollet, the bankrupt, who said that prior to October 1907, ho owned a property at *7nnn herry - He had a mortgage of t/uuu on tho property. His wifo ithen had a farm at Tadmor in her own namo, with about £1500. He iSf_? ht *** Tad nior property, paying SSOO or £COO for it. When thi partnorship of Levien and Rollet was formed ho paid in £1000 for his wife — « gift he had promised his wife. «c made deals in properties in Wellington; but ho was not successful. iio exchanged some Wellington prop 6 wr fo * an unencumbered property Jj wanganui. Ho raised £3500 on tbe Wanganuf property, and paid the ■National Bank about £1600— for his own account and a guarantoo of tho flrm'» aecqunt. Ho sold the Tadmor property for his wife for £1460, getting £1290 in cash, and taking a mortgage for the balance. After the dissolution of the partnership he took no part in the affairs of the firm. To Mr Maginnity: At any forced sale of hia Sherry property he would have beon worth at least £10,000. Bankrupt was questioned as to tho •' Tadmor property, and as to tho position of the old and now firms of Levien and Rollet at the bank. The answers led His Honor to romnrk that it was more like "Alice In Wonderland" than business. Later His Honor said that he had beon need to bnsiness all bis life, and he had never been accused of want of comprehension. He understood bookkeeping hotter than most lawyers. But the present was the most ridiculous tanglo that had ever been presented .to bim. Mr Maginnity: Tho position is a very difficult one. His Honor: It is not difficult if it is" properly presented; but~as it is it ie most extraordinary. Mr Maginnity: I am doing the best I can, yonr Honor. (Loft Sitting.)'