BANKRUPT ENGINEER.

Press, Volume LXIII, Issue 18912, 29 January 1927, Page 6

BANKRUPT ENGINEER.

MEETING OF CREDITORS

Yesterday, a meeting of creditors in the bankrupt estate of John McLeod, engineer, Lyttelton, was held in the Official Assignee's office. It was 66t out in bankrupt's statement that the amount owing to unsecured creditors was £3BO 13s 6d, secured creditors £1029 10s 3d, while the total assets were £IO7O, showing a deficiency of £340 3s 9d.

The unsecured creditors were:—J. (McLeod, senr.), £153; Hunter and Ronaldson, solicitors, £B7 4s 6d; Forbes, Ltd., £l9; Nidit and Son, merchants, Hastings, £l4 9s; F. H. Knight, Lyttelton, £5; C. H. Agar and Co., £2; C. H.' Agar, £IOO. Secured creditors were:—Lyttelton Permanent Land and Building Society, £626 2s sd: J. D. Bundy, butcher, Lyttelton. £350; C. H. Jones, jeweller, £53 7s lOd. In his sworn statement bankrupt said that a little over five years ago Reentered into partnership with Mr C. E. Brown, and they took over the business formerly carried on by D. *ndi

S Sinclair, general engineers, t*yttelton, of which he had been the manager since 1915. They paid- £2OOO for the business and assete, and at the end ot the first year the business was converted into a private company. The company worked under bad conditions from the atart; ft was short of capital, trade got very bad, and creditors were in a hurry to be paid. About August last it was decided to liquidate. The meeting was adjourned sine die.