IN BANKRUPTCY.

Auckland Star, Volume XXXV, Issue 206, 29 August 1904, Page 2

IN BANKRUPTCY.

MEETING OF CREDITORS. The first meeting of creditors in the estate of Robert Alexander Law, storekeeper, of the Kauaeranga, was held on Friday, 26th, at the auction rooms of Mr R. R. McGregor, Thames. Those present were:—Mr E. Gerard (chairman), the bankrupt (supported by his solicitor, Mr ■C. J. Clendon), and tne following creditors—Messrs G. Roes, W. Scott. E. Murphy, W. Culpltt, J. Read, M. Whitehead, K. Bateman, A. Hethertogton. R. S. Thorbtirn, and P. Tetley, representing a total of £381 6/10. The bankrupt, on being sworn, said he was 35 years old aud had a wife and family of seven children. He started the store .about five years ago, having only £25 in cash, though he borrowed another £25 from- his mother-in-law, Mrs Murdoch. m January last he must have owed £300 outside of Messrs L. D. Nathan's claim. Tne Assignee commented on the bankrupt's treatment of the creditors, wiLom n.e considerd very badly dealt with. The proposal that he should be recommended for his discharge on payment of 5/ in the £ to all ordinary creditors was discussed at great * length. Finally Mr Scott proposed, and Mr J. Read seconded, that on payment of 5/ In the £, split np in promissory notes (endorsed by an approved parly) for 1, 4, 7 and 10 months the bankrupt's discharge should be facilitated, the propoeel to be open for one week. This was carried unanimously. It was also agreed that in the meantime the assets should remain in the care of the Official Assignee's agent. The merJng was tUmi adjourned till Friday, September 2.