IN BANKRUPTCY.

Poverty Bay Standard, Volume I, Issue 194, 28 July 1884, Page 2

IN BANKRUPTCY.

(Before G. L. Greenwood, Esq., Registrar.) IN J?E BLOOMFIELD. An application was made this morning before the Registrar, by the Deputy Official Assignee in Bankruptcy, under tho 79th section of the Act, to throw aside a certain mortgage of stock, given by the debtor, Bloomfield, to Common Shelton & Co , on the ground that the consideration or a part of it, was paid antecedent -to the date of the delivery of the stock. Mr. Shelton applied for an adjournment of the case, as they were totally unprepared to meet it, their solicitor Mr. Brasscy, being j absent from the district. He wished it to bo adjourned for a fortnight.

Mr. Kenny on behalf of the Official Assignee said he was instructed to oppose an applica tion for adjournment. The summon:; wai

from that Messrs. Common Shelton & Co., had been aware all along that this step would be taken, and could have been prepared to meet it. He had told Mr. Shelton on Saturday last, that personally, he had no objection to an adjournment, but it depended entirely on the Assignee, who did not see his way to consent to it. As to Mr. Brassey being absent, he submitted that that was neither here nor there, as there were plenty of other lawyers in the place who could conduct the case, and as it really happened the question involved no law whatever. Tho application was under tho 79th section and it was to be proved whether the mortgage

of stock was valid, as the consideration, or part of it was antecedent to tho date of tho delivery of the stock. That was all, and he might say, the principle that every case ought to be adjourned because Mr. Brassey was not here, was not une that ought to be countenanced. The sole question was, was this consideration paid on the 19th day of April, or was it not ? All they have to do is to prove that, and if they did, well and good, but if they did not the case would have to take its coarse. A large number of persons were interested in this estate, and to whom it was of the utmost importance that it should be wound up with all due speed. He would remind them that in three months the Official Assignee would have to declare a dividend, and if he could not do so, would have to make some explanation as to the reason for not so doing.

In reply to Mr. Shelton, Mr. Kenny said they would be able to go behind all cheques that had been passed in this transaction, and show that they were merely a blind. • Mr. Shelton repeated what he had said before. He did not rely so much on Mr. Brassey, but he was in the full expectation of his application being granted, and it seemed unreasonabla not to grant it, as they should be allowed full time to consider the matter.

The Registrar did not see how he could in any way grant a fortnight's adjournment. He certainly would not refuse to grant them (Common, Shelton and Co.) such an adjournment as might enable them to obtain legal assistance. Mr. Shelton—A week.

The Registrar thought that was unreasonable. He did not think it required days, but only a very few hours ; that time would be sufficient to enable them to instruct a solicitor and go into the case with him in order to make up a defence. Mr. Shelton said the summons was served at a very short date, and time should be allowed for that. The Registrar asked when it was served. Mr. Shelton—On Wednesday. The Registrar could not say that that was a short time, it was reasonable. Mr. Kenny again said they had been aware all along that those steps were going to be taken’ The Registrar said he would allow a short adjournment. He thought Wednesday next would be ample time. Mr. Shelton said there were a good many witnesses to be examined. How did they think that that was sufficient when such a large sum of money was involved ? If tho matter came before the Supreme Court twenty-one days would be allowed.

The Registrar asked how another day longer would do, Thursday. Mr. Kenny said if the case went on on that day they had no objection to it. The case was accordingly adjourned till Thursday morning next, at 11 o’clock. Mr. Kenny said there was one matter he would call attention to, there were the costs of that day, they had come there prepared to go on with the case, and had their witnesses, <fcc., ready and waiting. Mr. Shelton thought the matter might be left to stand until they could get legal opinion on their side. The Registrar agreed to let the matter of costs stand over until the case came on again, when it could then be considered and argued on both sides.