A BANKRUPT’S AFFAIRS.

Gisborne Times, Volume XLV, Issue 4144, 22 January 1916, Page 3

A BANKRUPT’S AFFAIRS.

TITLE OF SECTION TO BE OAVEATED. The adjourned meeting of creditors in the bankrupt estate of John Dalton McLeod, carpenter, Gisborne, was held yesterday afternoon, before the Deputy Official Assignee ’(Mr. A. G. Beere). There were four creditors and the bankrupt present. Bankrupt’s sister, Mrs. McMahon, was to have been present, to bei exam_ ined as to her loans to her brother, and on her title to a section of land made over to her in liquidation of the debt.

The Assignee stated that tihe meeting had been adjourned in order to enable bankrupt’s sister, Mrs, McMahon, to attend; in order to give evidence. Ho had sent a notice to Mrs. McMahon, and apparently tho date the notice was posted she went away by tlie boat, and she did not receive it. He got a letter from her some days later, in which she stated that, seeing tlie account of the bankmptcy meeting in the paper, and as to Iher claiming the section she certainly did, and had mortgaged.it to the Advances to Workers Department. As to lending her brother money, she certainly did, and could prove it. She added that she would give tho information on her return. There was no address or date on that letter, but later bankrupt supplied the address, and the Assignee wired asking her when she could return. To that she wired in reply: “Send saloon fare; return at once.” In answer' to Mr. A. W. Rees, bankrupt said that lie had seen his sister the evening after the meeting, but did not mention that she had to attend next meeting. Mr. Rees: You naturally wouldn’t, spending the evening with her. Bankrupt: I couldn’t prevent her going. Mr. Rees: I didn’t suggest you assisted her away. Bankrupt: We certainly talked over the .bankruptcy meeting. Mr. Rees: “I don’t think we should examine bankrupt further. I suggest that this title be oaveated. We stand quite a good chance of getting equity.” Mr. Roes added that the expense would not bo great to adopt that course, and he was willing to share the cost. The Assignee: There are no funds in the estate at all. I can’t run the risk of anything more without a guarantee! from the creditors. On ihc motion of Mr. Rees, seconded by Mr. Bell, the following motion was carried: “That tlie title be oaveated, with the e* editors’ guarantee of Messrs. Re is £2. Bell £2. and Richards £l.” Tlie. Assignee stated that he had not replied to Mrs. McMahon’s wire. Mr. Rees: Wo are not guaranteeing that. The letter was received 011 Tuesday, and couldn’t have got hero unless she had written it before she went away. He asked had the. receipts for tlie money lent been sent out for examination? Tlie Assignee: I have got an opinion on them. Mr. Rees: Did you get the receipt butt? r !ho Assignee: No; McLeod cannot find tlhose. He presumes they were burnt. Mr. Rees: It is rather a pity that tlie receipt butt is lost. It would be rather interesting. The meeting was adjourned sine die, Mrs. McMahon to be examined on her return.