Mr O'Brien's Failure.

Auckland Star, Volume XXVI, Issue 196, 17 August 1895, Page 4 (Supplement)

Mr O'Brien's Failure.

Accounts have been issued under the failure of Mr VV. O'Brien showing liabilities £8,075, and available assote £77 10s. The bankrupt, who had been a member of Parliament for the paeb thirteen years, and who ab the date of the. receiving order represented the city of Cork, states thab for about nine years prior to the end of 1890. he was editor and manager of * United Ireland,' and has eince been engaged in journalistic apd literary work, his income from the latter source having averaged about £250 a year. Hβ attributes hie failure to pressure by the petitioning creditor, who acted as bie solicitor in an action in which be (bho bankrupt) was the unsuccessful plaintiff, and who nosy claims about £407 balance of unpaid costs. The bankrupt denies personal liability on the ground that tbsre was an understanding between himself and the creditor thac the latter shotsld look only to party funds for payment; of his costs. It appears, however, that in an action broughb by the creditors a defence on these lines failed. The only unsecured liability scheduled is the claim of the petitioning creditor. The other liabilities (£7.668), are in respect of guarantees given by" the bankrupt in some cases in conjunction with other*, and represent —• as to about £4,000, advances obtained from an Irish bank for the relief and support of Irish tenants evicted from their holdings, as to £1,800 legal costs incurred in connection with the defence of tenants evicted from the Poneonby estates, as to £400 legal charges incurred in connection with other eviction proceedings, as to £1,200, legal costs incurred to enable tenants on the Michelslown estates to lodge applications and to avail themselves of the benefits of the Land Court, and as to £200 advance obtained for the benefit of a person formerly a member of the Irish Nationalist party. With reference to these liabilities tho bankrupt said that all wore incurred for the benefit of the Irish Nationalist movemenb, and thab oub of tho public funds of the Irish party, the sum of £14,000 has been specially allocated for the settlement of these and similar claims. The 4 other property' (£7O) disclosed in the statement of affaire consists of article? of presentation, plate, etc., valued ab £50, and copyrights in a novel, 'When We Were Boys,' and in a volume of eseays , • Irish Ideas,' of bhe estimated value of £20. The furniture at the bankrupt's residence, Mallow cottage, Westporb, county Mayo, is claimed by his wife on the ground thab it was purchased out of her separate estate. Ab the date of the receiving order the bankrupt was the registered owner of 50 ordinary £5 shares in the 'Freeman's Journal (Limited),'but these also are claimed by his wife on the ground that they were purchased by her out of her own moneys and were placed in the bankrupt's name merely for the ptiirpoee of enabling him to speak and vote at) the meetings of flharoholderfl.—The meeting of creditors was fixed for July 2.