IN BANKRUPTCY.

Hawera Star, Volume XLVIII, 26 July 1924, Page 15

IN BANKRUPTCY.

ESTATE OF A. WRIGHT. The meeting of creditors in the bankrupt estate of Alfred Wright, farm manager, of Ararata, lapsed yesterday afternoon for want of a quorum. There were no secured creditors in the estate, and there was only an unsecured liability of £2OO to John Wright and a contingent liability of £149 to the Cheltenham Dairy Go. The deficit was therefore shown at £2OO, bankurpt’s furniture being valued at less than £25, the value allowed by the law to remain in the possession of the bankrupt. Bankrupt, in his written statement, said he was farming at Makino, near Feilding, until January last, he having bought during the boom at £57. an acre. He put £750 of his own capital into the concern, but later found that he could not carry on and had to get out. He borrowed £2OO from his brother, John Wright, of Hastings, but he could not. pay him back, a7id his brother consequently sued him. Ho had also been sued by the Cheltenham Dairy Co., who alleged that he liad been overpaid for butter-fat. They had sued for £149. He had certain share capital in the Cheltenham Dairy Co., and there was a bonus to- come, but he had no alternative but to file his petition in bankruptcy. jl l A lG|> ! y tQ fictions' put by the bankrupt said lie- had given a bill of sale over liis stock and*chattels in January last, and the stock had been sold last month to pay his debts and bring him to Hawera. The chattels included a little household furniture and a horse and gig, but they were all included under'the bill of sale to E. Pearson, of Makino. His sliaie.s ni the dairy company numbered about twenty, thirteen of which were hilly paid up, but the company only took thorn -over on the payment of To per cent, of their face value Milk moneys owing by the Cheltenham L)any Company totalled about £3O but they were being held pending the court case in August. Mr. Bayley (bankrupt’s solicitor) pointed out that the dairy company could not attach -he milk moneys once the estate came under the administration ot the D.O.A.

Qucstionecl rcgardhig a piano, bankrupt stated that the instrument was being purchased on time payment bv Pnx ' s , on ’, an . cl given as a present to bankrupt’s wife.