IN BANKRUPTCY

Grey River Argus, 19 June 1925, Page 8

IN BANKRUPTCY

CASE OF AV. J. DENNEHY. WHY DID P.W.D. FAIL TO PAY? A meeting of creditors in the bankrupt estate of William John Dvnneliv, contractor, of Ten Mile, was he’d in the office of the. Deputy Official As. sigpee yesterday afternoon. lhe following is a list of unsecured creditors:—AY Wood and Co (Christchurch), £100; W. Jeffries and Co (Christchurch) £10; D. McLean Lid.. £45 14s; Dispatch Foundry Coy.. £l5: Vacuum Oil Coy. £32; F. Wade £4 13s Id; AV. D. Clarke (Runanga) £2 12s 6d; T. Baty, £7; Boucher and Co. £lO Ils I0d; C. S. Baddclcy (Run. anga) £4 15s; Ashby, Bergh and Co.. £6 10s; State Mines £3 Is 6d; 11. Hahn (Cobden) £l9; Ogilvie and Co. £2B: Kim. AVilliams, £18; Mrs Alarbin £l5 8s; Manson and Co. £1; Christchurch Hospital £42; AVcllington Hospital £4O; N. Mouat £32; B. Koeti - ■ ■ £455 6s lid. The Hokitika Savings Bank was secured to the amount of £BO, the total debt being £l3O. The assets amounted to £BO, leaving a total deficiency of £425 Gs lid. The bankrupt, stated that in May 1921, he was solvent. In that month he took a contract with the Public AVork.s Department to build Seven Mile Railway Creek Bridge, the contract price being £ll5O. lie worked at that for four months, and expended £397, and his own time, which 1 assessed at £lBO, making a total of £577. During that period he received payments totalling £157, leaving £420 owing. Tlii' Department took the con. tract out of his hands. Ho anticipated the Department would complete the bridge in a reasonable time, and that there would be sufficient monies left to pay him. the £420. The Department. took one year and months to complete the bridge and upon eom_ pletion informed bankrupt that there was a deposit of £BO, and nothing left for bankrupt. For live months follow, ing the termination of the contract bankrupt, worked .at supplying the Public Works Department with timber, and during that time reduced his liability by £5O. IL* then took up a coal prospecting license at Ten Mile. An ticipating that ho would receive the monies owing to him by the Depart, ment, he expended the sum of £641 in

opening up l a coal prospecting area' The sale of coal brought in only £425 leaving over £2OO Joss on the work ing. In August last he discintinued prospecting, and had hoped up to that to receive payment from the Public Works Department. Tn July last, however, he went to AA r ellin.o’t r ' ll and interviewed the Department and to his astonishment learned that the Department would pay him ••■ Since August he had worked f and had reduced his liability by approximately £lOO, but was comp' to file owing to the pressure of several creditors. Air J. AV. Hannan appeared for bankrupt, and there were fe r < r ors present. Tn answer to the Assignee. Lniik. nipt stated that he had no a*« any value. The Public AVoiLment had a number of tools that belonged to him. The Department had told Bankrupt that he would eventually get the tools, but Bankrupt placed absolucly no faith in anything the Department said. In answer to Mr r Bankrupt stated that the motor lorry he had out at Ten ATile belonged to his brothers, having been taken over by them them when Bankrupt found he could not meet the payment. As there were no distinguishable assets, the meeting was closed.