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MEETING OF CREDITORS

fete ROBERT m'kenkie.

the first meeting of creditors in the eaiaicj of liobert M'Kenzie, of D lined in, commission agent, was held at the Official Assignee’s office this afternoon. Nine creditors attended.

Bankrupt’s statement, which has already been published, showed total liabilities to be L 377 12s; assets nil.

Bankrupt, being examined by the Assignee, said that he was insolvent six years ago, in January r 1884, and the several debts then owing were reassumed when he obtained his discharge. One item, L 55 to Clark, and another of Ll5O to Young, which appeared in his former statement, were still owing. So that he had gone to the had further to the extent of Ll7O through bad times, depression in trade, etc. The statement of receipts which showed that he earned about 25s per week was perfectly true, and he had a wife and seven children to support out of that. He first discovered that he was getting into debt some years ago. Ho had not made any bad debts since eighteen months ago. He had been steadily going to the bad of late, and had owed about L3O or L4O per year. Liabilities connected with the office formed a large proportion of his debts. He had not paid these. Pressure by creditors had forced him to file, and he had no property or money. His furniture was, at his former bankruptcy, taken over by his wife. He had surrendered his property then, and had accumulated nothing since. When his mother died he bought the chance of the distribution of the estate, but nothing was left in the estate, and the money which he had borrowed to purchase the chance had to be returned to the lender.

The Assignee asked if any of the creditors had anything to ask about the property. It appeared that bankrupt had simply lived on his creditors, and that seemed to be a very common thing nowadays. Mr Evans said that ho had followed bankrupt up pretty well, and could state that he had received no money. He moved—‘‘That the batikriipl be rebommended for his discharge.” Mr He Renzy seconded. Mr Clark objected to the bankrupt being granted his discharge in the manner proposed. That had been done before. The money had been lent to bankrupt to pay for a certain section, and on that pretence the money was lent. That money had never been paid, and bankrupt, at his former bankruptcy, had kept him (Mr Clark) out of the bankruptcy. The matter had never been investigated by the Judge, as bankrupt had said that the money was paid when such was not the case. Mr Donholly also objected on account of bankrupt’s son, who was in his employ, obtaining goods for his rather while he was receiving his own wages. It was a conspiracy on the part of father and son. Mr Young, who was the largest creditor present, said that the money had been owing to him for some considerable time. Ho was quite’prepared to wait, however, for perhaps the bankrupt would be able to pay some of it oft.

The Assignee remarked that the fact that bankrupt reassuming the debt after his bankruptcy showed that he was trying to do his best to pay bis creditors. From the statement before him he saw that bankrupt had little margin to go upon. The motion was then put and carried by Value, Messes Donnelly and Clark objecting. The meeting then adjourned sine die.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18891105.2.25

Bibliographic details

MEETING OF CREDITORS, Evening Star, Issue 8056, 5 November 1889

Word Count
582

MEETING OF CREDITORS Evening Star, Issue 8056, 5 November 1889

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