BANKRUPT CARRIER

Dominion, Volume 21, Issue 141, 14 March 1928, Page 5

BANKRUPT CARRIER

QUESTION OF ACCURACY OF BOOKS STATEMENT WANTED The adjourned meeting of creditors in the estate of Harry Gilbert Moncrief, carrier, of Lower Hutt, was held yesterday morning in order to allow bankrupt to produce his books. The amount owing to unsecured creditors was £297 Ils., and there were no assets. The Official Assignee (Mr. S. Tatisley) presided, and there were also present bankrupt and his solicitor (Mr. S. Joll), and petitioning creditor (Mr. L. C. Utting), and his solicitor (Mr. A. B. Sievwright). The petitioning creditor had obtained judgment by way of damages in a divorce case in August, 1918, and figured amongst the unsecured creditors for u sum of £250.

Mr. Sievwright said that the books which had been produced were absolutely valueless to disclose the position of bankrupt. It was absolute impertinence for bankrupt to come to the meeting to waste time. The books produced revealed nothing of the transactions of bankrupt during the past three years. Bankrupt, it appeared, had withdrawn the whole of the amount in his Post Office Savings Bank account, and had not disclosed what he bad done with the proceeds. It seemed that bankrupt had transgressed the Bankruptcy Act in not keeping proper books, and had made wrong statements with regard to his wife's earnings. Since last meeting he had had the lorry valued; one valuer had assessed its value at. £4OO and another at £350. He claimed that the equity in the lorry of £lB3, after the amount owing to Inglis Bros, had been met, belonged to the creditors. He was quite satisfied that the £2OO put into the Essex motor-car was Moncrief’s money. He claimed that bankrupt should be prosecuted, and that • Mrs. Moncrief should be called to account where she had obtained the money from.

Mr. Joll said that Mr. Sievwright had made many wild statements, with nothing whatever to substantiate them. With reference to the lorry, Mr. Sievwright insinuated that Inglis Bros, had been comspiring with bankrupt to defraud the creditors.

Mr. Sievwright: I never said anything of the sort.

In reply to the Official Assignee, bankrupt said he had no offer to make his creditors.

Bankrupt said that fits wife bad worked at the Queen’s Theatre for nine years. For the first five years she received £2 ss. per week, and for the remainder of the time 30s. per week. None of his money went into the buying of the Essex car. The Official Assignee said that in order to clear himself, bankrupt should prepare a statement showing his takings and expenditure during the past three years.

Mr. Sievwright: What did you do with the money you drew out of the Post Office Savings Bank?

Bankrupt: As I told you before, the motor lorry was laid up for six months, and I was unable to do any work through illness for ten months. I drew the money out. in order to live. After further questioning, it w’as agreed that bankrupt should . prepare a statement, showing his receipts and expenditure for the past three years. The meeting was adjourned sine die.