BANKRUPT FARMERS

Sun (Auckland), Volume II, Issue 339, 26 April 1928, Page 13

BANKRUPT FARMERS

WALKED OFF AND TOOK STOCK WITH THEM TWO DISCHARGES OPPOSED Opposing the discharge from bankruptcy of Ronald George Mclntosh, farmer, of Kerepeehi, before Mr. Justice MacGregor, this morning, Mr. Maigli stated that he did so on the ground that bankrupt had committed an offence under the Act. In April, 1925, bankrupt agreed to purchase a property of 100 acres belonging to a Mrs. D. J. Blythe, for £ 45 an acre. He carried on the farm for two and a-half years, and decided early in 1927 that he would not carry on. In June, 1927, he entered into another agreement with a Mr. Gillies to purchase a property for £3,000. At that time, said counsel, he must have known hat his financial position was bad. He paid £2OO deposit on the new property, and gave a bill of sale over the stock and everything else lie possessed. Having completed these arrangements, the bankrupt walked off Mrs. Blythe’s property, and iook his stock to the new place. In August, 1927, Mrs. Blyth obtained a judgment against Mclntosh for the instalment of the purchase money, and in October of the same year he was declared bankrupt. Since then the position had been investigated by the official assignee, and the vendor under the second deal, Mr. Gillies, had been served with a writ against the stock and other chattels held by him under the bill of sale, and that case was now pending.

Mr. Leary, for Mclntosh, stated that his client had considerably' improved the property, and Mrs. Blytli had really got back security virtually equal to the debt. Bankrupt had lost over £3,000, but had played the game, and there would be a dividend of 10s in the £. He had been working for the official assignee, and counsel asked that the discharge be granted. His Honour said he did not think he should grant the discharge at the present time, in view of the fact that an action was pennding by the official assignee to recover certain stock and chattels disposed of by bankrupt shortly before he became bankrupt. The case would stand over for three months. A SIMILAR CASE Similar in practically .every detail was the case of William George Hopping, farmer, of Kerepeehi, whose discharge was opposed by Mr. Haig. “He walked off his farm, too,” said Mr. Haig, “and Mrs. Blyth was the owner in this case also.” Bankrupt had stock worth £4OO, and had given it away to someone in the district. When he left to go to another farm, he took everything with him. “Everything except the mortgage,” remarked 4- his Honour.

Mr. Leary, for the bankrupt, denied that his client had given the stock away as a gift. He considered he had given too much for the farm. In standing the case down for three months, his Honour stated that a ny.n should pay his debts before he undertook fresh responsibilities.