MEETING OF CREDITORS

Nelson Evening Mail, Volume LXI, 15 October 1926, Page 2

MEETING OF CREDITORS

ESTATE OF QJtH. BATCHLEOR,

A meeting of creditors in the estate >f Cecil H. Batchelor, of Wangamoa, farmer, was held yesterday afternoon. flio Official Assignee (Mr "F. W. Mitchell) presided. The creditors present were W. Blue. W. C. Harley, H. C. Wilson. F. Cooke (J. P. Cooke and Son), md VV. V. Rom (representing 11. J. Sharp). Mr Kerr appeared for bankrupt. The statement filed by bankrupt shows he amount owing to unsecured creditors G 482 18s 4d; to secured creditors £1640, ess estimated value of securities £2050; surplus to contra £4lO. The total assets are given at £420; leaving a deficiency of £62 18s 4d. The unsecured •reditors are: Kaiunia Timber Companv Blenheim) £127 18s 6d, Walker and Co. Wellington) £2l, C. Beach £9 12s 6d, 11. H. Wilson £2O, J. P. Cooke and Sons £l5O 7s 4d. W. Blue £B, 11. J. Sharp £4O, Cole and Ellis £4 4s. G. Mercer 17/9, Olsen £5, R. Watson £35, Anchor Foundry Coy. £4, Webley Bros. £J B,s 3d. Henry Baigent (timber merchant) £35, Cooksey and Co. £l3 10s, W. C. Harley £5 4s" Bd, Robertson Bros. Ltd. £2, M. Jeffreys £lO Bs, C. Lay ton £5; total £482 18s 4d. The secured creditors are: State Advances Superintendent £I2OO, Mrs R, A. Batchelor £4OO, R. J. Acheson £4O. In a written statement bankrupt said he was a. plumber by trade and at the beginning of 1925, with the assistance of a loan of £I2OO from the State Advances, paid off the mortgages on lands which he had previously acquired at Wangamoa, and built a. house. Because of alleged unfair treatment, meted out to him by three creditors he refused to incur further liabilities by way of purchasing stock until a. settlement had been arrived at. His total returns from the farm for two years were under £4O. He had had a net total of approximately £550 in cash from the State Advances Department and from the Seymour Avenue property which be sold. His present position was due to (he pressure exerted by the three creditors. The farm is not at present producing anything and he was unable to make any offer to his creditors.

In reply to Mr Pout, bankrupt said the amount owing to his wife was for monies advanced from time to time since their marriage. The Official Assignee explained that bankrupt had tint tiled on his own accord, but. was adjudged a, bankrupt on the petition of certain creditors. In further reply to Mr Bout, bankrupt said he had had no valuation of bis property since the house, was erected. Ho did not. think the property would now realise the amount of the first mortgage, as money was so tight. Bankrupt also replied to questions put by Mr Harley concerning dealings with the Kaiunia. Timber Coy . In reply to a further question bankrupi said he estimated the value of furniture now in store al £SU. Bankrupt was closely examined by the Official Assigncee as to the money he had received from the Slate Advance's

Department as progress payments for the house he was building at Wangamoa : as to a quantity of firewood hi hail cut ; and the money owing lo hif wife.

In reply to the Official Assignee bank nipt said he was quite willing to assis to (jet out the firewood for the bcneli of his creditors.

After some discussion it, was resolved that in the event of bankrupt delivering the firewood (about. 00 cords) in Nelson within three months, no action be taken in respect i»f his furniture and effects; and that Hie Official Assignee be empowered lo pay one half of the proceeds from the sale to bankrupt. It was further resolved to recommend bankrupt for his discharge upon the completion of the delivery of the firewood.

Bankrupt, in the course of some remarks, said h,. did ,i o |. repudiate any of his debts; he had not sought the protection of the Court ; it had been forced upon him.