IRREGULAR PROCEDURE

Hawera Star, Volume LII, 18 November 1932, Page 9

IRREGULAR PROCEDURE

MONIES IN BANKRUPT ESTATE. COMMENT BY ASSIGNEE. An irregular procedure on the port of two trustees in an assigned estatewas '/commented, on by the Official Assignee (Mr. C. O. Pratt) at a meeting in the Hawera Cbm-thouse this morning when Kenehia Wilkinson, of Okaiawa, who filed his petition in bankruptcy on November. 10 ; appeared ter examination by ids creditors. Bankrupt stated that he was a married man living at Okaiawa with his wife and two children. He was employed as a farm labourer at £2 17s a week but of this amount 10s. a weeic was paid out in wages to hired help owing to his wife’s poor state of health. In July of last rear he consulted his solicitors, Messrs O’Dea aiid Baviey, and a meeting of creditors was called at which Messrs L. Hall (Hqwera) and J. Barclay (Okaiawa) were appointed trustees on behalf of the creditors and it was arranged that he should pay £2 a month to them for distribution among the creditors as a whole. A sum of £26- was paid from August 20, 1931' to October 6_ of this year. understood than this sum had been distributed among three creditors, Messrs E. Dixon, Hall and Barclay, consequently the other creditors had been pressing him ior payment of their accounts. Had_ this sum been distributed- in accordance with the arrangement come to at the meet in o- lie would not lmve been foreed into' his present position. Bankrupt owed £76 18s Id t° im ~ secured creditors hut this amount was offset by £26 representing monies already paid and held in trust, leaving a deficiency of £SO 18s Id. Amounts over £.5 owing to unsecured creditors at the date of assign,ment were as follow: Vidal and .-Oils (Hastings) £5 10s, - Patea Hospital £9 9s; L. Hall (Hawera) £7 ss: T. Moodward (Hawera) £9; o'’Dea and Bayley (Hawera) £5 ss: J. Barclay (Okaiawa, £l9 8s 6d The Official Assignee remarked that according to a statement handed in by bankrupt’s solicitor (Mr. R. J. bankrupt entered into a Deed of Assignment- in which he agreed to pav £§ month to Messrs Barclay and Hall who had been appointed to act as trustees for the whole of the creditors. Payments were made regularly from August of ■ last year to Octobeiof this year, hut the trustees distributed tlie proceeds only among three of the creditors (Messrs Dixon, Barclav and Hall). *“Jf such an was made ” said Mr. Pratt, “then action will b e taken by me for tlie recovery of the whole of the monies paid for the benefit of all tlie creditors. > • * Hhe Official Assignee further remarked that during the last 12 months f bankrupt had managed pay his wav ! and had incurred no fresh debts This much stood to bankrupt’© credit and ’ he (the Official Assignee) would recommend his discharge.