BUILDER'S INSOLVENCY.
BOOKS TO BE INVESTIGATED. A meeting of creditors in the bankrupt estate of John Sorrenson, builder, of Onehunga, was held at the office of the official assignee yesterday morning. Mr. Richmond appeared for creditors, and Mr. Spitt (of Messrs. Parr and Blomfield) for the bankrupt, who was not present. The assignee stated that one offer had been made on behalf of the trustees of the late Mr. Dick to give £100 for the equity of the building at Onehunga, or, as an alternative, to allow the assignee to sell the property subject to the trustees' claim for £582 and interest, amounting in all to over £600. He (the assignee) had had the property valued, and the value placed on it was £640 10s. .
. Mr. Morton also thought that the offer should be refused and that the bankrupt should be informed that he would be allowed till Monday next to find 15s in the £ for his creditors, failing . which proceedings would be taken against him. The assignee (said he could not give his sanction to any intimidation of this kind. Hi could not be a party to the suppressing of a prosecution simply because a money • compromise was arrived at. If the evidence appealed to him to warrant a prosecution he would submit the matter to the Crown Prosecutor. He thought the creditors were taking a wrong proceeding. Mr. Richmond said the creditors felt very indignant over the matter, and were only taking action to secure the protection that the Act did not appear to give them. "Wrong proceeding," therefore, hardly seemed the proper term. The assignee said perhaps he should have said that proper action had not been taken.
On the motion of Mr. Morton and Mr. McColl, it was decided to decline the offer of the Dick trustees, and that the equity of the property be disposed of by the assignee. . ; It was agreed to have the bankrupt's books examined by an accountant, whose report would be submitted to a future meeting, when the debtor would be fully examined. , . "
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New Zealand Herald, Volume XLVI, Issue 14144, 20 August 1909, Page 6
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342BUILDER'S INSOLVENCY. New Zealand Herald, Volume XLVI, Issue 14144, 20 August 1909, Page 6
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