REFORM IN BANKRUPTCY.

Patea Mail, Volume VI, Issue 539, 29 June 1880, Page 3

REFORM IN BANKRUPTCY.

Both Houses of Parliament have appointed Committees to report on the Bankrupt}' Law of the Colony, and the Committees have jointly addressed the following queries to the Law Societies : (a) On whose application a debtor should be made a bankrupt ; (b) By whom the bankrupt’s estate should he administered ; (c) The circumstances which should disentitle a bankrupt to his discharge ; (</) Whether any, and, if so, what alteration should be made in the law relating to bills of sale ; (e) Whether the right of distress for rent should not be modified ; (/) By whom a bankrupt shall be prosecuted, and whether a fund ought to be created out of which costs should be paid ; (y) What claims should be treated as preferential ; (A) Whether the present mode of arrangement by deed should be continued; (i) Whether every debtors hould not obtain his discharge after open heading in Court. The Christchurch Chamber of Commerce, in reply to the Bankruptcy Committee inquiry “ What claims should be treated as preferential ?” - says : —“ In clause 100 of the present Act, a clerk is entitled to six months’ salary in full, but a workman is only entitled to two months. We cannot see why there should be any difference. We should make them equal by giving them three months’ salary, and allow them to prove for the balance.” In answer to the query about bills of sale, the Chamber says : —“ Tiro practice of taking transfers of fire policies ought lo be included under the Bills of Sale Act, and registered accordingly, and be made subject in all respects to the provisions of the said Act relating to assignment of personal chattels, including bankruptcy.