MEETING OF CREDITORS

Evening Star, Issue 18504, 11 December 1923, Page 4

MEETING OF CREDITORS

INSURANCE AGENT’S ESTATE. A mooting of creditors in tiio estate of Alfred John Green, insurance was bold in the office of the Official Assignee 1 (fur W. \Y. Samson) thus morning. Mr W. I L. Moore appeared for the bankrupt, and j six creditors were represented. | The amount owing to unsecured creditors ( was £l2O 5s ud, the principal ones being J Herbert, Haynes (£26), Mrs Drearer (£18), ! J. T. Cooper (£l6), and A. Dickio and j Co. (£ll 10s). The only secured crodi'mwas Air 11. Divers (£tß 2s). Tlie value of ' the bankrupt’s furniture was £4O, so that his total assets were £1 18s, he having j no property other than the furniture. ; The bankrupt’s statement was to the effect that for the past fourteen years he had been an insurance agent working on a commission basis. The amount that ho averaged was about £5 weekly, and out of that ho had to pay travelling expenses, so that his net average would not exceed , £3 10s per week. About seven years ago | his wife had to undergo an operation, from i which she never completely recovered, ana' from time to time had been confined to her bed, sometimes for as long as three months. A number of doctors had attended her, and his medical expenses had been heavy. His daughter had been unable to go to business on account of having to alterd to her mother. He had no assets of any description, the furniture which he possessed being mortgaged for practically its , whole value. Some time ho had a. meeting of creditors, and promised to pay i 5s a week off his total debts, but he found he was unable to keep this up. Some of his creditors took proceedings against him, and he was forced to file. He regretted the position in which he was placed, and would like to nay his creditors; but at present ho had* no prospect of increasing his earnings. | On being questioned, the bankrupt stated ! that some furniture which had been removed from his house at North-east Valley earlv one morning was his own, and had been removed at tliai time of the day to another house for the convenience of the workmen. He could not make an offer. | A motion was eventually carried providing for the leaving of bankrupt’s affairs In the hands of the Official Assignee. j