“TOO BUSY”

Dominion, Volume 14, Issue 261, 29 July 1921, Page 4

“TOO BUSY”

BANKRUPT AND CREDITORS ADJOURNMENT OF MEETING NECESSARY A meeting of creditors in the bankrupt estate of John Charles Troy, of 47 Ghuznee Street, carrier, was held yesterday at the office of the Official Assignee (Mr. S. Tansley). Bankrupt's liabilities were set down at £l7O ss. 6d., and. tho assets nil. The principal creditors were: Charles Quaid, £96 10s.; G. Groves, motor mechanic, £l9 17s. 6d.; G. Brown, dairyman, £l5; Ceylon 'Tea Company, £l3; J. Newman, produce merchant, Auckland, £l9. Bankrupt made no appearance, his counsel (Mr. P. J. O'Regan) explaining that ho was too busy to attend the meeting. The Assignee pointed out that Troy could not bo represented by proxy. He would have to attend personally. The meeting was accordingly adjourned till Tuesday next, after several creditors had expressed dissatisfaction at the attitude adopted by tho bankrupt. In a written statement furnished to the Assignee, bankrupt said that he had resided in Wellington for seven years. For two years he was a tram conductor, and later a storeman in a grocery business. For the last three years he had followed the occupation of a carrier. In September, 1920, Charles Quaid, a man named Menzies, and bankrupt commenced business under the style of tho Colonial Produce and Agency Company. The business of the firm was to consist of carrying and selling fruit, vegetables, and similar produce. As all three were on friendly terms, no deed of partnership was prepared. At the time bankrupt possessed no means, and it was understood that his contribution to the capital consisted mainly of a motor-car which he then held, under a hire-pur-chase agreement, in resnect of which he had paid about £lBO. The business was not a success, and personal bickering and quarrels ensued that culminated in Qiuyd going out of the business. Menzies and himself still endeavoured to carry on. Ultimately Quaid commenced legal proceedings, and obtained judgment against Menzies and bankrupt for £96 10s. each. Bankrupt added that he had been unable to liquidate this liability. Messrs. Sutherland and Rankin, from whom he bad purchased the motor-car under the hire-purchase system, seized the car some time ago, but snbsiquentlv they re-hired it to his (bankrupt’s) wife. Bankrupt was now using the vehicle but was not making more than a bare living. Only by his wife keeping boarders was he able to make enough to meet current expenses. His wife was not strong, and there were four young ch'ldren.