BARRY KEEPING'S AFFAIRS.

New Zealand Herald, Volume XLIII, Issue 13285, 18 September 1906, Page 7

BARRY KEEPING'S AFFAIRS.

OFFICE OF 4s IN THE POUND REFUSED.

A special meeting of the creditors of Barrington Ralph Keesing, formerly trading as Barry Keesing, stock and sharebroker, was held at the offices of the official assignee (Mr. E. Gerard) yesterday

The Official Assignee announced that he had received an offer from the bankrupt's friends to purchase, the assets (valued at £70) for £200. in order that the bankrupt might be discharged of his liabilities. This offer would represent a payment of 4s in the £1. At - the request of Mr. Keesing's friends, he (the official assignee) had .stayed his hand before ordering a public examination, and he could still further stay his hand if there was any other tangible offer. Whatever offer was made would not alter his report ii the matter went to public examination.

Mr. C'arminer thought the claim of Mr. Wright (bankrupt's partner) should not be recognised, as it was a partnership claim. ■ The Official Assignee said some of the claim made by Wright would certainly have to be paid* ■ ' . Mr. Moore said the debts to Mr. Wright arose after the dissolution of the partnership. This claim was made by Mr. Wright as an ordinary creditor, and not is a partnership creditor. * Mr. Carminer asked whether the law case in which Keesing was concerned had had anything to do with the bankruptcy. The Official Assignee said that was so. Mr. Baxter (representing Mr. Keesing) said Mr. Wright was responsible for orui half of the costs of the law case, and had " already paid it, and he was a creditor foil Mr. Keesing's half, which he had also pawl. Mr. I'ullan sail his clients would n<ot accept a composition of 4s in the £. They tlu.ui.ht. the bankrupt's friends could hel]>) . iiim a little more, so that he could avoid" going before the Court, but the creditors whom he (Mr. Pullan) represented would not accept less than 10s in the £. He moved, and Mr. Brown seconded, "That this meeting requests the assignee to report to the Court before ordering a public examination of the bankrupt the fact that creditors are willing to recommend the bankrupt's discharge on condition that bankrupt's' friends purchase from the assignee the assets of the estate for a sum sufficient to provide a dividend of 10s in the £ to all creditors proving their claims against the estate 011 or before October 24 next, and that, failing this offer being accepted, and a proper guarantee being found for the sum required within 14 days from date hereof, the assignee do take against tie bankrupt such steps as he may think necessary." . Mr. Carminer moved "That the offer of the bankrupt's family to purchase for £200 the assets of the estate be accepted, on the understanding that bankrupt received his discharge." Mr. Williamson seconded. Mr. Baxter said the family were not inclined to increase the offer of £200, and the chances were that if that were not accepted no more would be offered.

The amendment was, lost. The motion was then put and carried.