A BANKRUPT SOLICITOR.

Auckland Star, Volume XLIV, Issue 102, 30 April 1913, Page 11

A BANKRUPT SOLICITOR.

LARGE CLAIMS BY CREDITORS. ' (By Telegraph.—Press Association.) TIMARU, Tuesday. Details of a bankruptcy case, which has created a sensation throughout the district, became public to-day through the first meeting of creditors. Bankrupt is Walter Shaw, a solicitor, who, it is alleged, had been indulging largely in land speculations on his own behalf, and in financing another speculation, and, according to the statement made by the solicitors and the deputy Official Assignee, muddled the business badly. Unsecured creditors are stated by the bankrupt as between 50 and 00 in number. The total unsecured debts are £30,603. and the assets are estimated at £24,041. One large transaction in which the bankrupt was concerned, with one Trevurza, appears to 'have been the sale of properties supposed to be worth £13,335, for £7,500, but the purchasing company offers to cancel the bargain on being repaid the deposit with interest and costs. About 100 creditors were present, and six solicitors, representing different parties. To-day'a proceedings were practically all concerning the "Trevurza transaction, and the meeting was adjourned for a fortnight. It was stated that there are other creditors and other assets. The claims include sums of £5,000 £2,800, £2,200. £2.000. £1,960, £1.400, and nine others over £.500. Bankrupt asserts that if the assets are properly realised, he will pay 20/ in the £.