BUILDER'S FAILURE.

Auckland Star, Volume LVI, Issue 185, 7 August 1930, Page 10

BUILDER'S FAILURE.

CREDITORS DISSATISFIED.

MORE INFORMATION

WANTED

ADJOURNMENT OF MEETING.

When tho creditors of Henry John Lyons, builder, of Point Chevalier, met to-day before the Official Assignee, Mr. A. W. Watters, it was announced that there was no written statement of the causes of failure, and that no financial schedule had been prepared. Objection was made by several creditors to bankrupt's method of carrying on business, and after some discussion it decided to adjourn the meeting until August 2o in order that books and accounts might bo produced. , , , , r Lyons, who was represented by Mr. Meek, said he had an accountant until three years ago. The accountant was discharged, and the books were kept subsequently by another man, who was away at present. Mr. Marshall White, representing one of the principal creditors, said he would like to know if there were any books, because bankrupt, in Court, had stated that he had none. Mr. Me'elc said there were books, but they were not up to date. Mr. White:' I question whether there are any books in existence. Tho Official Assignee said it was for the meeting to decide'"- whether they should adjourn until .the accounts and documev J could be produced,' or to proceed with the examination.' M». O'Donnell, for the petitioning creditor, said it was obvious that bankrupt had had plenty of time in which to prepare a statement of accounts and to get his books into order. Mr. Meek replied that it was quite impossible to produce a detailed account When transactions running into thousands of pounds were concerned, unless tho accountant was available. Mr. O'Donnell: It is common knowledge that Lyons was carrying on building operations in the name of his wife. It is questionable whether it would be advisable to give him too much time to prepare a financial statement, as the position might be prejudiced. Questioned further, bankrupt stated that he had not seen his present accountant since his adjudication, and it was impossibly for a statement to be prepared until the accountant returned. Ho was prepared to do all he could to help the Assignee in his inquiry. The meeting was then adjourned.