The Sun.
London, England, 1825-09-24 00:00:00

INSOLVENT DEBTORS' COURT, SEAT. 23.

IMPORTANT TO ASSIGNEES.
In the matter of WitaaAm GowLAND, an insolvent dis.
charged in the month of July, 1824,
Mr. PoLLocx shewed cause against a rule Nisi, obtained
on a previous day by Mr. Heath, to be served on the executor
and executrix, for them to shew cause why they should not pay
over to the assignee to the estate of the said insolvent, such
sum out of a certain legacy of 1,0001. bequeathed to Sarah,
the wife of the insolvent, since his discharge from this Court,
by the last will and testament of one William Bennett, lately
deceased.
The case being one of a novel description it occupied the
Court for a considerable time. The facts connected with the
case are briefly these—
The insolvent was discharged by this Court on or about the
23d of July, 1824, his schedule then containing debts to the
amount of 270/. or thereabouts, and Mr. George Ellis Cooke, a
respectable jeweller in Jewin-street, was appointed assignee to
his estate and effects.
Since the insolvent was so discharged, a 3lr. Bennett (now
deceased), by his last will, bequeathed the sum of 1,0001. to
Sarah, the wife of the insolvent, to be paid by his executors,
&c., within 6 months after his decease, which happened about
March last; she (Sarah) being niece to the defunct.
It was sworn, when the Rule Nisi was obtained upon the affi-
davit of the assignee (Mr. Cooke), that the insolvent had at-
tempted to compromise with all his creditors, by paying 3s. 6d.
in the pound; and some of them through ignorance had cc..
tually done so, and signed a release. Mr. Cooke, however,
and several others, being privy to the request before named, and
in order that he (Mr. Cooke) might properly discharge his duty
to the Court, and the rest of the creditors, he thought proper to
bring the matter before the Court, in order that it might give
such direction as it might think fit. It appeared, moreover,
that the assignee was entirely disinterested on his own account,
as pending the proceedings he had been offered the full amount
of his debt
Mr. POLLOCK observed that this proceeding was one of the
most extraordinary that ever came under his observation. The
insolvent, it would appear, had compromised with some of
his
creditors, by the stipulation to pay 3s. 6d. in the pound, and
Mr. Cooke, the assignee, had been offered the whole of his de-
mand; therefore, why he should come forward and trouble him-
self about the other creditors, he (Mr. Pollock) was at a loss
to know. Notwithstanding this observation, he did not mean
to complain of the assignees, Messrs. Cooke and Mitchell, but
he must say that they seemed anxious about matters which
did not appear to concern them. The Learned Gentleman said
he had no objection for the matter to he referred to the Officer
of the Court, for him to explain what money was due to the
creditors.
Mr. HEATH, in support of the rule, submitted that the con-
duct of Mr. Cooke was laudable and judicious, especially when
it was considered that lie was not actuated by self-interest, but
from a desire to perform a public duty, which, as assignee, he
owed both to the Court and the creditors, whose interests he
was bound to protect. If the creditors had any of them agreed
to take 3s. 6d. in the pound with their eyes open, he (Mr.
Heath) could not help it ; but several of them had repeatedly
complained to Mr. Cooke that they had acted in ignorance.
The COW RT suggested that if the matter was reterred to the
officer of the Court, sufficient money should be deposited to
cover all such demands as were liable to be made.
A Creditor observed that he for one had signed the release,
but at the time he did so he was entirely ignorant of the state of
the insolvent's affairs.
The COURT interrupted him and said it would not enter
upon that subject at present, as that point might come under
consideration elsewhere.
After a long conference, the COURT ordered that a copy of
the deed of release should be tiled, and that the officer of the
Court after investigating all the circumstances, should report
what sum was due to the creditors, the assignee being allowed
the costs connected with the rule obtained against the executors.