BANKRUPTCY.

New Zealand Herald, Volume XXVIII, Issue 8556, 2 May 1891, Page 3

BANKRUPTCY.

MEETING OF CREDITORS.

A meeting of creditors in the estate of Lefcitr.a Brown was held at the office of the Official Assignee yesterday. Mr. Lawson presided, and there were present: the debtor, and her solicitor, Mr. Napier; Messrs. Dufaur (L. D. Nathan and Co. Burton (for Syers and Cooke), Gledhill (for Grey and Sons), Handley, and Mrs. Thompson. Mrs. Thompson and Mrs. Watkinsoo were requested to attend, for the purpose of giving evidence. Mrs. Brown stated that she thought Mrs. Watkinson was absent through illness. Mrs. Thompson's letter of April 25 was read. In this she intimated that she had reconsidered her offer to hand over her interest in the life policy to the creditors for her mother's benefit, and felt that she was not justified in handing it over on the following grounds :—(1) She took all ordinary care of Mrs. Brown's money, and was in no way liable of its loss (2) she was nob in good circumstances, and her husband was at present in another colony, and had been ill for some time, and unable to contribute to her support; (3) her policy would mature in a few years, and to surrender it now after ib had been in existence for 14 years would be a business loss to her ; (4) in the absence of her husband and without) his advice she felt that she would be acting unjustly to her children if she were to surrender what she had been looking to as a means of helping them in the future. Mr. Lawson said that Dr. Laishley, a creditor,

had been in the morning to say that Was his opinion that an action should be brought against Mrs. Thompson for tho recovery of £120 on account of gross negligence as a bailee. Mrs. Thompson was then sworn, and in reply to Mr. Bur' ton, said she declined to produce the life insurance policy which was token out in. Wellington. It was then resolved on tha motion of Mr. Dufaur, seconded by Mr. G4edhill, " That this meeting is of opinion that proceedings should be taken against) Mrs. Thompson to recover the sum of £120 delivered to her by the bankrupt."