A BANKRUPTCY CASE.

Temuka Leader, Issue 2109, 9 October 1890, Page 4

A BANKRUPTCY CASE.

DuinaDiN, Oct. Qy. At the Supreme Court to-day a motion was sought for by the Official Assignee to set aside certain payments made to the Farmers' Agency Company by Thomas Lindsay, a bankrupt, on the ground of fraudulent preference on the bankrupt's part. It was in this case that Mr Donald Beid, some months ago made his great denunciation. In the evidence it was shown that the bankrupt owed £2515, and had only £173 to meet these debt's... Mr Chapman, counsel for the Assignee, submitted that the payments should be set aside as they had been made at a time when the bankrupt's position could only be described as one of utter and absolute financial rottenness. The Company, he assumed, would set up that the dealings had been in the ordinary course of business. That he was not prepared to admit, but, even if it were; so, the Court would still have to consider the legal position; of a creditor who received payment under the circumstances disclosed. Mr Solomon remarked that the bankrupt's " ordinary course of business was most extraordinary," and Mr Chapman, who. adopted the phrase, mentioned that there was an old case in the law books "in which a highway robbery was pleaded as being within the ordinary course of business. Since then the name and method were changed, but the result was the same, or worse, in the present instance." His Honor reserved judgment.