ASSETS CONCEALED

Daily Telegraph (Napier), Volume 58, Issue 127, 1 July 1929, Page 5

ASSETS CONCEALED

• SWISS BANKRUPT'S ACTION. ANIMOSITY TOWARDS BROTHER. COURT GRANTS PROBATION. A statement that the reason why a bankrupt had failed to inake known his assets was his animosity towards his brotlier, on whose petition he was adjudicated, was made in the Auckland Police Court. Christian Henry Dubi, a Swiss, who has been farming iu New Zealand for many years, was charged with failing to deliver np to the Official Assigueo £488 and a number of company shares, and with fraudulently moving £488 assets. Accused pleaded guilty. "The facts are peculiar," said Mr Huhble, who appeared for the Official Assignee. "Tlie only two creditors in the estate both have mortgages over bankrupt' s property. Neither of tbem will receive anything. When accused was adjudicated he said definitely that he had 110 assets." Examination of the books showed that bankrupt, between September and February, had received £500, and had not disclosed that sum. Some of the money was used to pay other creditors, until there were only the two unpaid. Bankrupt then had the sum mentioned in the charge, but spent it, stating that the two remaining creditors would j?t nothing. Mr Sullivau said that for some years accused gas farming at Henderson, and while lie was there his brother came from Switzerland to join him. Accused fed and kept his brother until bo exchanged the Henderson property for one at Te Hana. He then gave the brother a mortgage over the farm at Te Hana. The other creditor was atiotlier mortgagee, whose advance was guaranteed by the brother. Already the brother liad received £500 from accused's wife. Accused had paid every penny he owed with the exception of the two mcrtgages, Mr Sullivan conlinued. The matter was a difficult oue, and was differeut from most bankruptcv proceedings, in tbat it arose from bicker-ii-g between the two brothers, who had fcught a Supreme Court action. Accused, who had spent all the money to prevent his brother getting any, was now penniless, and had a wife and five young children. "I think that he will be sufficiently runished if I place him on probation "or 12 months," said Mr F. K. Hunt, S M. He added that the case did not seein to be oue where imprisonment should be imposed.