IN BANKRUPTCY.

Lyttelton Times, Volume CXVII, Issue 17533, 17 July 1917, Page 8

IN BANKRUPTCY.

ESTATE OF G. W. LAWRENCE

MEETING OF CREDITORS. The adjourned meeting of creditors in the bankrupt estate of Georgo William Lawrence, general and secondhand dealer in motors and cycles, or Lower High Street, Christchurcli, was held at the office of the Official Assignee yesterday afternoon. The Official Assignee (Mr T. D. Kendall) presided, and there was an attendance of about a dozen creditors. Mr Hunt represented the bankrupt. Mr Sargeant represented Mr Cree. The debtor's statement, submitted at the, previous meeting, showed the total of unsecured liabilities was £475.12s I'd, and the assets were set forth as—Stofck and plant £175 and book debts £lO5 8s 4d, a total of £2BO 8s 4d. .., !

The previous meeting had been adjourned in order to obtain from . the Crown Solicitor an opinion regarding certain legal aspects of the matter. Mr Kendall said thai Mr Raymond had advised that there- was no partnership botween Lawrence and Cree, the position between the parties being such as was laid down in the document (produced), dated June last, showing that the relation was principal and agent. Continuing, Mr Kendall said that the position of tho creditors was probably just as sound as if there had been a partnership between Lawrence and Cree. Tho book debts were now estimated at £268, so the deficiency on paper, was £41,, but that would be greater if, the book debts did not reaBso'what 'theso wero, estimated to produce.

In reply, to Mr C. Allison, the debtor said that during the time the business was carried on in his wife's name there was nothing to show the public that was the position. A man named Campbell was never in partnership with him, but his name was on the billheads. Campbell put no money into the business, but worked on commission. Those transactions had no thing to do with the present business. To Mr Sargeant, the debtor said that he had handed all his books to the Official Assignee. Among the book debts set down wore some in the amount assignod to Crce, and were incurred for Cree's goods. He had not tried to " beat!' Creo. He had not been gambling. He would swear that he did not take £7O to the Ashburton races. He took a few pounds which he won . at Plumpton. At that time there were 'judgment summons against him. Allegations of fraud had been made by some creditors in obtaining judgment summons, but such allegations had never been proved. To the Official Assignee: He was not, a heavy gambler. He usually closed up on the "tote" if ho had lost at the beginning. ' To Mr Sargeant: He did not have to borrow £1 at Ashburton to put on a horse because he was cleaned out; nor did ho have £l3 on Cora Dillon. A creditor objected to Mr C. Allison s claim on the estate on the ground that the transaction referred to took place before the previous assignment. After further discussion, it was agreed that the estate should be left in the hands of the Official Assignee to wind up.