CREDITORS’ MEETING AT TIMARU

Press, Volume XCIII, Issue 27993, 13 June 1956, Page 14

CREDITORS’ MEETING AT TIMARU

BANKRUPT OXFORD CONTRACTOR

(New Zealand Press Association) TIMARU, June 12.

An adjourned meeting of creditors in the bankrupt estate of Clarence Victor Atwill, lime sowing contractor, of Oxford, was held in the Timaru Magistrate’s Court today. The official assignee, Mr G W. Brown, of Christchurch. presided. Atwill, a married man with three children, was stated to have been in the lime sowing business since 1951, and in November, 1954, to have bought plant valued at £14.000 from a farm machinery firm. The Official Assignee today told creditors that it appeared Atwill had been insolvent when he bought this plant, and the most unsatisfactory feature was that bankrupt carried on when it was obvious he could not clear his debts. Atwill had been supposed to pay for the plant in instalments of £3OO in the winter months and £6OO a month in the summer, amounting to £5OOO a year, but it had been obvious at that stage h£_^ ad had a lot of back debts. Atwill had then moved to Oxford, where he contracted more debts, mainly from garages for repair work, petrol, diesel oil, and so on. The statement of affairs presented to creditors today showed a deficiency ot £6481 in respect of liabilities and assets. The Official Assignee adjourned proceedings sine die. At the hearing Mr M. G. L. Loughnan (Christchurch) appeared for the bankrupt, and Mr B. J. Petrie and Mr R. Stout for creditors.