BANKRUPT REGISTRAR

Gisborne Times, Volume XXXVI, Issue 3438, 16 September 1913, Page 2

BANKRUPT REGISTRAR

COUNTY COURT OFFICIAL’S REASON FOR, £22,000 INDEBTEDNESS.

At a sitting held for the public examination in London of Mr Matthew Riglitou Webb, solicitor, amended accounts were filed showing unsecured liabilities £22,803, arid assets of uncertain value.

In answer to Mr J.. 8. Knight, Official Receiver, the debtor said ho was admitted a solicitor in 1878, but ceased to practise in 1901. In 1905 lie wu's appointed Registrar of Whitechapel County Court, which position he still held, liis official income having averaged about £llOO a year. His difficulties were chiefly duo to his having, in 1893, assumed liabilities of upwards of £15,000 incurred by a former partner. fn December, 1904, having had several bankruptcy petitions presented against him, he agreed to set aside £7OO a year out of his salary towards the liquidation of the liability, and he bad since paid over £OOOO to creditors.

Owing to this drain upon his resources, he liad to borrow from professional moneylenders, one of whom eventually obtained the receiving order. His.unsecured indebtedness was mainly in respect of borrowed money, and his present position, was partly duo to interest paid upon it. A scheme for the arrangement of bis affairs under which the payment of at least 7s Gd in the pound was to be guaranteed, had been, accepted by the creditors.

The examination was concluded