DEBT PROOF WANTED

Sun (Auckland), Volume IV, Issue 1044, 7 August 1930, Page 16

DEBT PROOF WANTED

BANKRUPTCY OF HUSBAND AND WIFE SOUGHT* BIG ESTATE INVOLVED Oral evidence to establish the debt to her, and the value of her security, will have to be adduced by the petitioning creditor, Airs. Agnes Boyd, of Tauranga, in the Supreme Court, in connection with her petition to have Ewen William Alison, the, younger, and his wife, Winnie Alison, adjudicated bankrupt. This decision by Air. Justice Smith was contained in a reserved judgment delivered yesterday afternoon in connection with proceedings heard at the recent bankruptcy sitting. The judge adjourned the hearing until the next bankruptcy sitting for the production of the necessary evidence. The value of the estate, which consisted largely of property at Takapuna, was stated at the hearing to be approximately £ 11G.000, and the claims of about 40 creditors aggregated about £BO,OOO. BANKRUPTCY NOTICE The debtors’ non-compliance with a bankruptcy notice requiring the payment of £528, the amount for which judgment had been obtained by the petitioning creditor, was the basis of the petition for adjudication, the judge stated. According to the petition, the debt was secured by a mortgage from the debtors to the petitioner, securing the sum of £SOO and interest, and the petitioner valued the security at £3OO. The petition was objected to on the ground that the debtors had assigned the whole of their estate for the benefit of all their creditors. His Honour added that six creditors, out of a total of 39, had signed the petition, and he added that it was anticipated for the debtors that all the creditors, except the bank, were prepared to sign the document. He held that the existence of a deed of assignment in the present case was not sufficient cause for the court to dismiss the petition.