THE BANKRUPTCY ACT.

Wairarapa Age, Volume XXXII, Issue 10265, 17 June 1911, Page 5

THE BANKRUPTCY ACT.

AND THE CHAMBER OF COMMERCE. DISCUSSION IN MASTERTON, The proposal of the Dannevirke Chamber "of Commerce that an amandin in t of the! Bankruptcy Aot be sought to. enable creditors in a bankruptcy estate to appoint a private assignee, came up again before the Masterton Chamber of Commerce yesterday. The s lib-commit-tee to wihiom tihe proposal was relegated made a recommendation. that tube proposal be approved of. Mir W. B. Oheranelfo expressed surprise <at tie reoommendation of the sub-cam mittee. He could not see how such & proposal could be worked. Under existing condition®, creditors liad a light to appoint supervisors. How, he asked, were going to do when there were a series of bankruptcies to be admin-' iister^dP iMr Keitlli pointed out that the desire was to protect creditors against incapable official .assignees

Mr Moodie would like to know if there would Tie a possibility of procuring suitable private assignees in ■all oasee. .

Mr Ewiingjton expressed satisfaction with the present method under wihdoh the Bankruptcy Act was ad'ministered ill the Wiairarapa.

Sevetral memfers endorsed the remarks of Mr Ewington eonoeiraiing "the • efficient maimer in which the Act had been administered in the Wairarapa. v , Mr Moodie thaug}ht it was a rnat"ter wHcth should be dealt with very carefully. 1 ; " Mi Keith stated that tlie proposal did not mean the wiping out of Offi<?ial Assignees. It merely jgaTO the creditors power to appoint s private assignee if they were so disposed. Mr R. Brown thought that tlie •whole bankruptcy question should be> considered. The question of private assignments' was of importance.

Mr stated that a good ttyiUy private alignments were made because the debtors desired to avoid publicity.

After further discussion it Was deafcfed that consideration of the matter b© deferred until, next meeting, tha/t notice of intention to di&ous® the question be sent to all yttaitare 'd' tihe GotinCiL