✨ Bankruptcy Report Statistics
2
SUPPLEMENT TO THE NEW ZEALAND GAZETTE.
In practice, the creditors do not take advantage of the provisions of the law to continue the pro-
ceedings to adjudication.
The following is a note of the adjudications made during the year, classified according to the
Provinces or Districts to which they are applicable:—
| Province or District. | Adjudged by Supreme Court. | Adjudged by District Court. | Total. |
|---|---|---|---|
| Auckland | 82 | 12 | 94 |
| Canterbury | 84 | 6 | 90 |
| Nelson | 21 | ... | 21 |
| Wellington | 51 | ... | 51 |
| Taranaki and Hawke's Bay | 1 | 19 | 20 |
| Otago and Southland | 104 | 27 | 131 |
| Westland North and South | ... | 86 | 86 |
I.—General Account of Bankruptcies in Dependence at 30th November, 1871.
The Accountant in Bankruptcy has to report that he can only give an approximate estimate of
the number of estates now depending; the trustees in a good many cases not having furnished the
necessary information as to the precise position of estates in their hands.
Number of bankrupt estates wound up by division of funds during year
ending 30th November, 1871
14
Number of estates in which there were no assets; returned as closed
192
Number of estates wound up by a composition or arrangement
5
Annulled
2
Remaining in dependence on 30th November, 1871
280
Total
493
II.—Results of Adjudications wound up by Composition during the Year ending
30th November, 1871.
During the year there have been settlements by arrangement or composition in respect of five
adjudications.
The rates of composition or terms of arrangement are not generally reported. The highest
composition which is reported is ten shillings in the pound.
III.—Discharges in favour of Bankrupts.
The number of discharges granted applicable to this year is 341.
Of these discharges, 5 followed on composition settlements, and the remainder were granted
without composition. In 53 cases the final discharge was suspended for periods varying from one
month to three years, namely :—
| Number suspended. | Period of Suspension. | |
|---|---|---|
| Auckland | 3 | 3 months to 1 year. |
| Canterbury | 16 | 1 6 months. |
| Otago and Southland | 13 | 1 12 ,, |
| Westland, North and South | 17 | 1 2 years. |
| Wellington and Napier | 4 | 3 3 ,, |
IV.—Discharges in favour of Trustees granted during the Year ending 30th November, 1871.
There have been no discharges of trustees in bankruptcy reported.
V.—Number of Estates administered by Provisional Trustees, and Number of Estates administered
by Trustees elected by the Creditors, from the commencement of “The Bankruptcy Act,
1867,” to the 30th September, 1871.
By Provisional Trustees . . . . . . 1,617
By Elected Trustees . . . . . . 405
2,022
In a considerable number of cases the Provisional Trustee was elected trustee by the creditors;
the above number 1,617 shows the number of estates in which he became sole trustee ex officio.
VI.—Proceedings of the Accountant in Bankruptcy in cases of complaint against Trustees
in terms of Section 227.
The Accountant has had to take action against several trustees. In one case, where the
Provisional Trustee was sole trustee in a large number of estates, his position was brought under
the notice of your Honorable Court, and he was by it relieved from his trusts; a new Provisional
Trustee being appointed.
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NZ Gazette 1872, No 34
✨ LLM interpretation of page content
⚖️
Continuation of the Fourth Annual Report of the Accountant in Bankruptcy for 1871
(continued from previous page)
⚖️ Justice & Law Enforcement15 July 1872
Bankruptcy statistics, Adjudications, Discharges, Trustees, Provincial totals, 1871 report