BANKRUPTCY.

Auckland Star, Volume XXIX, Issue 184, 6 August 1898, Page 4

BANKRUPTCY.

v —— . ■.:■■. At a meeting ,of crcdi^qr* of j|. ■)!> Mitchell, surveyor, held yesterday at the office of the Official Assignee, Mr Dufatir» solicitor, attended and explained |hi.t^|ilß in Wellington he had an interview wth Mr Percy Smith in reference to certain matters connected with the bankruptcy, A resolution was passed that the meeting be adjourned to allow the Government time to consider the position and to intimate what they intend to do. Tlios. Itober't Judd, draper,'a debtor, has made a sworn statement before the Official Assignee. He said that he had been in business in Queen-street about two yean. He started with stock valued at about £500. He did a satisfactory business up to February 13th, 1898, when a fire broke out on his premises. The greater part of the stock, then valued at over £2,000, wa3 destroyed. He afterwards, bought the salvage from the Royal, Commercial Union and JNew Zealand Insurance Companies. Ha was" insured for £2,180, £100 of which was on the fixtures. The Koyal paid £1,123 and the Commercial Union £179 or thereabouts, being the full amount of : his 'claims. He claimed £690 from ,tte New Zealand Company, but'they refused payment on the ground that he had not given them written notice. The matter was still in abeyance. The papers relating to the claim were in the hands of Devore and Cooper, who were acting for Mr Colteck in the matter, that gentleman having alien of £80 on the policy. After the fire debtor resumed business on the same premises in April 1898 with the salvage stock, and since then he had added about i 250 worm of goods, partly on credit. The only books saved from the fire were the casband credit books, both much charred. Debtor. said that when his creditors fousd he: was not likely to get the New Zealand. Insurance money they fought shy of him with regard to supplying him with goods/ and:|a^K found his business was getting into a baa state for want of new goods, he determines on June 29th to close the shop. Two days before doing so he called a meeting « creditors, when it was decided debtor should file. He refused to do so on legal adnce that such a step would prejudice his claim on the insurance company. Afterw 81"* through a friend he Avas in a; position^* offer--12s 6d in the £on his liabilities. W creditors were willing to accept-this,?'1'? one exception. On the 2nd inst. be-s|w. adjudicated on a creditor's petition. '■■£*!!. estimates his assets at £1,375, and hatolitiw al I unsecured at £890. The present mg was insured in the Commercial Union1 £300.' _•"