IN BANKRUPTCY.

Press, Volume LIII, Issue 15955, 17 July 1917, Page 2

IN BANKRUPTCY.

ESTATE OF G. W. LAWRENCE.

Tho adjourned meeting of creditors in the bankrupt estate of George William Lawrence, motor dealer, of Christchurch, was held in the Official Assignee's office yesterday afternoon, the Official Assignee, Mr T. D. 'Kendall, presiding over a fair attendance. Details of the bankrupt's affairs, and his sworn statement were published last week when the meeting was adjourned for the purpose of securing the Crown solicitor's opinion on certain legal aspects of the case, especially in regard to J. G. Cree, to whom moneys to the extent of £2206 12s 3d were alleged to bo owing, but whose position, as to whether or not he was a partner in the bankrupt's business, was somewhat in doubt. Mr Hunt appeared for Lawrence and Mr Sargent-for Cree; When tho meeting was resumed yesterday, tlie Official Assignee said that Mr Raymond's opinion was to the eifect practically, that no partnership had existed. Had there been a partnership, said Mr Kendall, the assets would have been used to pay partnership debts before entering on the bankrupt's private business. As it was the position was much the same as before. Excluding Cree, if the book debts were fully realised, the deficiency on paper was about £41.

Mr C. Allison asked a number of questions about bankrupt's previous business transactions, which, however, it was shown, had no bearing on the present bankruptcy. In answer to Mr Sargent, bankrupt said that some of the- book debts mentioned in his statement included some mentioned in tho deed of assignment, and were, as a matter of fact, incurred for Croc's goods. Bankrupt said that at,the time he considered a partnership existed batwocn himself and Cree.

Mr Sargent—Then why did you sign a clause at the end of the deed representing that the respective positions wero principal and agent? Now, wero you not really out to beat this man ?'

Debtoi—-No.' I will show vou I was net.

In answer to Mr Sargent, as to where various sums of money had gone, debtor said that ho had used them in paying wages, etc. Mr Sargent—Now isn't it a fact that you have been gambling? Debtor —Well, no 1 haven't been gambling. Jvlr Sargent—Now, didn't you take £70 down to Ashburton and gamble it oil the machine.

Debtor—No, I didn't. I took a few pounds down, which . I had won at. Plumpton. Mr Sargent—Didn't you take money down there, and just alter you had had a judgment summons case against you m which there were allegations of fraud ? Debtor—lt was never proved. Mr Sargent—Have there never been eases against you in which fraud v.-as alleged ? Debtor—Yes, bat it was ncvor proved. In reply to the _ Official Assignee, debtor said that his practice on the racecourse was, if he were lucky eucugh to win ou a 10s or £1 bet, to invest his winnings again. Mr Sargent—Didn't you have a bet on Cora Dillon at Ashburton? Didn't you lose £15? Debtor —No. 'Mr Sargent—Didn't you borrow a pound when you were ''cleaned out," as the saying is? j Debtor—No.

Mr Sargent—All right. You are on oath, you know.

Some little doubt was expressed as to whether or not debtor was cn his oath, not having been sworn that day, but it was pointed out that this was an adjourned meeting, and the oath of the previous day still stood. One creditor objected to Mr Allison's claim against the estate Being acknowledged as it referred to a previous assignment. The speaker considered that in ethics, Mr Allison had no claim, and expressed the opinion that legal opinion on the matter should be obtained. After various other questions had boen ; asked it was decided that the winding np of the estate be left in the hands of the Official Assignee.