A TAURANGA BANKRUPT.

New Zealand Herald, Volume XLVII, Issue 14299, 19 February 1910, Page 5

A TAURANGA BANKRUPT.

.- "' MEETING OF CREDITORS. A meeting of creditors ;»iri- the; bankruptestate of /Joseph Edwin Dalton, of. Tanranga, -land: agent, was held at the official assignee's office yesterday'. ';'*". -Mr. Wynyard appeared for the bankrupt, and MrrHaddow for Mr. H. Phillips, a creditor.; x/'•"■■.'•: ;.,■;•;, :- Bankrupt's ;staternent (already published); showed his liabilities to; unsecured creditors to be £484 9s 3d ':arid4£s0 >. to :, a secured creditor, 'the : value of the security .being £200. ; The assets were set .down at £270,. leaving a deficiency of £214 9s 3d. • The assignee said Mr. Phillips' had made a claim for £63; for services rendered. arid | moneys paid■ by him on behalf of bankrupt. • Bankrupt said he ; had assigned his lease to Mr. -Phillipsv as consideration for ;; the. claim. There had been a distinct understanding that the assignment was to wipe out the debt. •/••:.: . ;,' . .

Mr. /Haddow, however, stated that Mr. : Phillips only/held' the lease as security for. the payment of the amount v due..v / /v. In reply to the assignee, ! Mr. Wynyard', said .that Mrs. Dalton would not/, be 'able; to make an offer for the.furniture just yet,: but she would be able to do so very shortly; \ ' It was decided to have the furniture; valuecL. '" , -.''•} / The assignee expressed the opinion that ; the estate' would not pay the creditors very, much in the .pound.-.'. J /;„ . S'i A ' "Mr. : Wynyard suggested ".that the / creditors give j bankrupt's wifevan opportunity; 'of meeting them : with regard to the furniture. t # ■_ ' • '\ ..' \ Mr. Haddow thought bankrupt's ) wife, should make some offer. She- st-smed to' have plenty of /interest in. native lands: //.', ;.: The; assignee said : it; was ; improper for him in his position to approach Mrs; Daltonand • ask:- her . to assist in clearing, her hus-. band's ~debts. , He..: suggested that order to .allow; the. .bankrupt to purine his avocation/he .be //granted/ a conditional . discharge, he (the assignee) to try, to sell/the furniture to. Mrs. Dalton, and ;• bankrupt ;to. make up the rest of the -, money ' from his: future earnings. ~/ . • ■■';..:■- .■";•,;•• . ' After some discussion, it was/resolved ,to recommend bankrupt i to hi 3:. discharge on condition that ho let judgment be entered, against him to the extent of 10s in the £. Bankrupt agreed to- this and.: the meetingwas adjourned sine dip. '■ '•;',' ;. ■