MEETING OF CREDITORS.

Evening Post, Volume LXXV, Issue 32, 7 February 1908, Page 8

MEETING OF CREDITORS.

ESTATE OF P. H. GOSSE. A further meeting of creditors in tho estate of Philip Henry Goks3, carrier, Petono, was held in the Chamber of Commerce to-day, before Mr. James Ashcroft, Official Assignee. Thirteen creditors were prosent. Mr. Myers appeared on behalf of the Assignee. The Assignee expressed surprise that po few of the unsecured creditois were rppiessnted. He stated that he had called for tenders for bankrupt's plaut (horses, drays, etc.), which wero valued at £1028. tho only tender received wa»> from Mr. Andrews (who was a secured creditor, and who, as a matter of fact, holds securities oveT certain plant) at £568. The case was a very difficult one. He could lefer epitain matters to the court, which had power to review agreements made between bankrupt and fomo of his creditoia. There Was an offeT of £950 by the bankrupt for all the assets of the cstit-3. and this would mean, it was calculated, 15s in the £. At the same time he (Mr. Ashcroft) did not believe it would amount to more than 12s 6d in the £. Mr. Baldwin, the largest creditor, advised the acceptance of the offer of £950 for all the assets in the estate. Mr. Hutchison moved in the direction suggested, and Mt. Leighton seconded the motion. Considerable discussion ensued owing to bankrupt refusing to become responsible for debts incurred since the date of the bankruptcy. This attitude did not commend itself to the creditors at first, but the motion affirming a comparison was eventually carried by a majority. The Assigneec said that at the meet- , ing to confirm the resolutions he would ',put forward objections to the course outlined in tl*j motion. The meeting was then adjourned sine die.