BANKRUPTCY OF SOLICITOR

Press, Volume LXXV, Issue 22850, 25 October 1939, Page 13

BANKRUPTCY OF SOLICITOR

INVERCARGILL CASE DIVIDEND OF 10/- IN £ J EXPECTED Cpbzs a ASSOCXATTOJI tzliokamJ INVERCARGILL. October 24. The opinion that if real realisations came up to expectations, the bankrupt estate of Charles Stephen Lonquet, a solicitor, would pay about 10s in the £ 1 was expressed by the Official Assignee at the third meeting of bankrupt’s creditors this afternoon. Liabilities were previously stated to be £35,543. end the estimated deficit £ 16.243. The Official Assignee explained there were 62 properties subject to mortgage to the bankrupt, and on those the face value of the mortgages was £17,263 13s sd. The amount due on the mortgages, as established by the investigating accountants, was £15,404 7s lOd. The Official Assignee estimated that the properties, the subject of these mortgages, would realise about £10,119 9s 3d. The face value of other assets of the bankrupt—two houses and shares —would bring the total face value up to about £21,207 13s sd, and on this the Official Assignee hoped to realise £12.863 9s 3d. So far 35 proofs had been received from creditors of the estate," and the face value of these proofs amounted to £20.502 18s lOd. If the realisation came up to expectations, bankrupt s estate should pay about 10s in the £l.