A FOOLISH ACTION

Rotorua Morning Post, Volume 3, Issue 666, 19 October 1933, Page 7

A FOOLISH ACTION

MAN SELLS £16,000 SHARE IN FATHER'S ESTATE FOR £50 NOW A BANKRUPT Sydney, August 2 During an application hy the Official Receiver against Lionel Patrick Marsden in the Banlcruptcy Court to-day it wa stated that Marsden had sequestrated his estate and a judgement of £1311 had been returned against him for damages in connection with a motor accident, and he had sold for £50 his share in his father's £16,000 estate. Judge Lulcin said that the transfer might have been the element of suspicion. "This young man should have enough common sense not to dispose of his share, the face value of which was £3200, and if the other children died, £16,000, for £50." The Judge said that the question was whether Marsden was still interested in the will. He did not think he would have been such a fopl as do do this. It was an outrageous thing. " don't know whether it was an arrangemenb made between friends or not," he added. I Marsden's counsel said that the I share had been sold to C. M. Murphy, an auditor. Mr. Badham (fof the Offieial Receiver) asked the judge to order £5 to be paid each week out of Marsden's salary until the sum of £650 was liquidated, but the judge made an order for Marsden to pay £3/10/- a week.