A BANKRUPTS ASSETS

Auckland Star, Volume LIV, Issue 71, 23 March 1923, Page 10

A BANKRUPTS ASSETS

ASSIGNEE'S PRESSURE. (fSy Telegraph.—Press Association.) DUXEDIX, Thursday. A meeting of creditors in the estate of Sophie Ellens, married woman, a resident of Caversham, was held to-day. Bankrupt's liabilities were set down at £321 15/3 and assets nil. The principal creditors, none of whom were present, resided in Christchurch and Timaru. Bankrupt, in her written statement, said she had two small fruit and confectionery shops in Timaru, but lost money, and had to sell out. The Official Assignee said it was regrettable that bankrupt had no offer to make to the creditors. If she could make an offer it probably would save trouble later on. Mr. \V. L. Moore, solicitor, said the Timaru creditors wanted all the pressure possible brought to bear on Mr. and Mrs. Ellens to pay. They contended that Mrs. Ellens had received money and that instead of paying the creditors she had handed it over to her hnsband. Mr. Brent, solicitor, who appeared for bankrupt, said Mrs. Ellens would probably be in a position to make some offer to her creditors, but he could not make any definite statement in the meantime. The assignee expressed the opinion that if bankrupt could make on offer of 5/ in the £1 the creditors might be satisfied. If she failed tn do so a criminal prosecution might follow.

It was decided that bankrupt be allowed a fortnight in which to make an offer to her creditors.