LAW REPORTS.

Dominion, Volume 1, Issue 148, 17 March 1908, Page 4

LAW REPORTS.

SUPREME COURT. IN BANKRUPTCY. , A CARRIER'S ESTATE. An application to approve the proposed composition in the estate of Philip.Henry Gosse, of Lower Hutt, oarrier, came before the Registrar of the Supreme Court (Mr. D. G. A. Cooper) yesterday morning. Mr. A. Dunn, who appeared on bohalf of the debtor, stated that his client's offer of £950 in instalments extending over a year (tho payment being guaranteed by Mr. Thos. Burt, of* Lower Hutt, storekeeper), in full satisfaction of. all claims, and in order to socura the aunulment of bis bankruptcy, had boon accepted by the statutory majority of-j creditors at meetings duly convened and held on February 7, 190S, and February 26 respectively. The claims r,[ unsecured creditors in the estate totalled £1233. At tho first meeting there was only- one dissentient ror presenting two creditors, to whom- in all £30 was owinßi and at tho second mooting the vote of only ono of these creditors was recorded. Tho highost tender received for tho stock-in-trado amounted to . £586, ' which would hiivo rotumed a dividend'Of Bs. in the £, whereas debtor's offer of £950 would result in a dividend of 14s.'-in tho £.' - Tho fact' that the application was not .opposed showed that it was a reasonable .one.

Mr. M. Myers, for tho ; Acting Official Assignco, stated that tho former Official Assignee and tho Acting Official Assignee were both prepared, so far as lay in their power, 'to agree to: tho terms of the composition. • The creditors were agreed that tho terms of tho composition were reasonable,' and' all the conditions had :bcen complied with. ' '. ■'••. ■!" ■ An order. was made approving 1 the composition as sot out in the resolutions passed ,bjr the .creditors,' and in terms of , the Act- 1 ing Official Assignee's report; •'.