PRIVATE ASSIGNMENTS

Wairarapa Age, Volume XXXII, Issue 10456, 21 October 1911, Page 5

PRIVATE ASSIGNMENTS

ALTERATION OF LAW WANTED.

At the meeting of the Council of the Masterton Chamber |of Commerce yesterday, Mr James .Brown. moved,in the absence of (Mir Richard Brown, who had given notice on the subject, "That an amendment of the present f bankruptcy. Law is desiraible, jproiing that no private assignments of tates shall he made in future -with- ■ outthe oonsefl.tl.of a Judge (br (Registrar) of the Supreme Court." Mr Henderson tlioncclit an effective way would ibe to make all assignments go through the Official Assignee. This would be a protection to the public. Mr Chennells considered the proposal to bring assignments before a Judge or (Registrar was in the best interests of the trading public. At the present time a man. made a private assignment, and got away, only '.to practice the same kind of thing in another township. There was no protection to -traders. He had seen 'several instances in which traders had foeen victimised. 1 Mr Jaime® ißrown stated that what, -^as',reqiture4^was .further protection the puiblic. Mr Daniel! said that, in his exper- , ience, the operation of -the, Bankruptcy Act in. sinall estate's was very expensive. If l a man went to the Bankruptcy Court his estate was eaten Up, whereas, if a private assignment were made, the creditors might get a few shillings in the pound. Mr Cbeamells stated that the idea was to register assignments, so that they would he given publicity. 'Mr Daniell thought the present system in regard to bankruptcy was cumbrous. The Chairman, thought that the whole position W as that an assignment should go through an official source.

Mr James Brown considered that the (benefit of the proposal contained in the resolution was the registra- > The motion was then, put and carried unanimously, and it was decided that a committee consisting of Messrs iR. Brown and Oheimells prepare a resolution and data, to be forwarded to the Minister for Justice arid other Chambers.