BREACHES OF BANKRUPTCY ACT

Taranaki Daily News, Volume L, Issue 61, 19 November 1907, Page 2

BREACHES OF BANKRUPTCY ACT

A. PATERSON ON TRIALPer Press Association. Auckland, Last Night. Alexander Paterson, draper, recently carrying on business in Hawcra, was placed upon his trial at the Supreme Court to-day, charged with committing six breaches or offences under the criminal' section of the Bankruptcy Act. The indictment sets forth that the prisoner had been adjudged a bankrupt, and did not disclose to the Official Assignee all his property; that his bankruptcy was attributed to rash and extravagant speculation; that within three years before the commencement of his bankruptcy lie failed to keep such books of accounts as were usual or proper in the business carried on by him; that at Hawcra, between the Ist May, 1905, and September 10th, 1000, he contracted a debt for the sum of £IB7B 2s 5d with Beath and Co. when he could not, at the time the debt was contracted, have had any reasonable or probable grounds or expectation of being able to pay the same as well as his other debts, lie is further charged with similarly contracting debts with Sargood, Son and Ewan. for ,t52 (is ad, and Jas. Hodgson for £2O 0s Od. Mr Ernest Gerard, the Official Assignee, said that the prisoner was adjudicated a bankrupt on his own petition on September 19th, 1000, and a number of debts in the estate were proved which prisoner had not given him particulars of. Prisoner's liabilities were stated by him at £14,800, and the "assets £7BOO. Prisoner's liabilities, including secured creditors, were actually about £IB,OOO. He had realised the whole of the estate, except a few book debts. The dividend would probably ho about Is Gd in the pound. The, books used by prisoner were the right kind, but were not properly perly kept. The hearing was adjourned till tomorrow.