UNUSUAL BANKRUPTCY CASE.

Dominion, Volume 2, Issue 493, 28 April 1909, Page 3

UNUSUAL BANKRUPTCY CASE.

ACTION AGAINST A CREDITOR.

: (BT TELEOBApiI—PRESS ASSOCIATION.). •','" ...,' Dunodin, April 26. A meeting'.'of creditors in the ' estate'of Thomas. Leslie -Walton, formerly of Invercargill, fruiterer and confectioner, was held, to-day. ;There tt'6re'."five-'creditors: present.' .'■;■ The Official Assignee (Mr. Fjsher) said :-that, at the first;meeting of creditors; it turned before. s.-Waltpn's .bankruptcy, -his :business,had.- been;disposed of: 8r05.,. ,of„ Invercargill. ..''Tho sale, toolc place,subsequent to judgmbntihaifing been' obtained hy: Moritzson and"' Go. against Walton -for' , a'fairly.'large -amount. ■it was.arsale. of .practically .the i whole of his assets,, and: nearly the; whole proceeds had/been deducted by M'Kay Bros, to pay their own account, that of: Kingsland and Co., and that pi' another,.creditor, so that, put of £300 proceeds of sale", only £35 had been handed over to Walton. In-his,evi-dence, 'Walton had stated that those moneys had,.been deducted/-by-.M/Kay, Bros..without, his. knoweldge- 1 or consent. -. <He; (Assignee)', had , received, a .letter from. ,M'Kay- : 8r05., - stating- that. Walton's "'evidence before .the Assignee bristled with, inaccuracies;. and forwarding- authorisation by /Walton to. M'Kay.to pay Kingsland.,He (the Assignee) had. further.examined 1 Walton, who still- denied that he authorised M'Kay to withhold amounts owing to - Kingsland and .M'Kay from. the'.proceeds.of.the/sale.; )-1i he' had signed any. such document -he:did/hot know, the purport, of it. .'The Assignee- had again , written to M'Kay Bros.,\ saying that the money .would haye to be paid over to him on behalf of the. creditors. "■-.,M'Kay Bros.had replied, explaining the whole position. Walton's conduct was somewhat' unsatisfac. tory. He'had shown himself most unreliable..;" ■■""/'■ -•■■■-■■■- -■■'■• : .": : ' ; •' :■■' It was : .resolved: "That. action be,'imm.ed:iate!y. taken ..against ;Meprs.;.;M'Kay,'Bros'.''