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Gisborne Standard and Cook County Gazette, Volume II, Issue 168, 12 July 1888, Page 2

THE D.O.A. AND STEWART’S ESTATE The matter of the proceedings at the the meeting convened by Mr Croft, the Deputy Official Assignee, on Tuesday, has attracted more than ordinary notice. The facts appeared to be that when Stewart filed his schedule in banks ruptcy only a limited number of his creditors proved in his estate, the remaining creditors not sending in their claims because they did not considc

the estate would pay a dividend. Long after the time fixed by the statute for filing claims had elapsed, the Deputy Official Assignee came into possession of a sum of money which should have paid a substantial dividend to those who had legally filed their accounts. Strangely, however, immediately on receipt of the money, above referred to, communication was made with the creditors who had not proved, and in consequence claims were sent in and passed, long after the statutory period allowed for the filing of such proofs. The result is that the legitimate creditors will now receive considerably less than they were and are legally entitled to. Mr Croft has placed himself in a false position to both sets of creditors, and he will require all sorts of legal assistance to free him from his present awkward position; the bankrupt himself will also need the supporting arm of the law, all of which costs will be paid out of the bankrupt’s estate as preferential charges—the sequel to the whole matter of the Deputy Official Assignee’s action being that a material portion of Stewart’s estate will be swallowed up in costs, and the legitimate creditors made to suffer because of Mr Croft’s wrongful procedure,