MEETINGS OF CREDITORS.

Auckland Star, Volume XVII, Issue 36, 12 February 1886, Page 3

MEETINGS OF CREDITORS.

Hibbkrd and Leugg.—ln the estate of Messrs Hibberd and Leggo, patent'stone manufacturers, a meeting of creditors was held to-day in tbe office of tho Official Assignee and Solicitor (Mr Russell)' Present: the dehtors, creditors, Messrs Buddie (Porter and Co.) Warbnrton, Steel, Kingbam, Flintoft. — The Awigoeo rearf the statement of Mr Jewitt with regard to ais connection with the estate He had no dealings with the firm of Messrs Hibberd ' and Legge, but had purchased £150 worth of stone and cement frojn Mr Hibberd. He gave £10 in cash and £16 for the removal of the good to a building specially prepared, The following was the opinion of Mr Cave to whom the case had been submitted by the Official Assignee :-Ri Hibbard and Legge : " Since my last memorandum on this matter, Messrs Jowitt and Hodgson have been examined, and an account has been rendered by the bankrupt, showing the disposition of the proceeds of the P.N.s received by him from Mr Jowitt in alleged payment for tho atono made over to the latter. This account is altogether unsatisfactory, and only shows how a small portion of tho money was disposed of. Assuring the sale to have been bonofide, Mr Hibberjl had no right to- ■ retain any part of the money for bis own purpose, whilst most of the payments which were in fact madei are of an exceedingly doubtful character. Hibbert had no right to prefer Hodgson over the -other' creditors, but the claim aippears to have been a bona fide one, and Hodgson disclaims any knowledge of a prior act of bankruptcy, I do not think he can be required to refund. As regards the sale to Mr Jowitt, it is clear that he was aware of the financial difficulties of the firm as well as of Mr Legge, and he knew also that an act of bankruptcy had actually been committed by the firm. This being so, he was not justified in handing over to Hibbord the price of the stone, and he must be required at once to pay the price agreed on, £150 to the Official Assignee. For the money improperly paid to Hibberd, he must look to that gentlemen, and if needs be prove against his private estate for the amount. The creditors should i pass a resalutlon authorising the Official Assignee to take the requisite proceedings against Mr Jowitt for tho recovery of the £150."