BANKRUPTS MISFORTUNES

New Zealand Herald, Volume XLIX, Issue 15132, 24 October 1912, Page 5

BANKRUPTS MISFORTUNES

/■'■/': /■"■'.'•'..:. —■„, , ' ***.).'' .i..;..'-; ;;.;-•.. ■.-■: -.'/'■ GENEROUS CREDITORS,, ; PRESENT HER WITH ASSETS. Creditors in the bankrupt. estate -of Mrs. Elizabeth Langley. widow, of Epsom, met in the official assignee's office yesterday. The official assignee (Mr. W. S. Fisher) presided. , BankruptV statement showed that her liabilities were £495, total ' assets £161 5s Bd, and the deficiency £334 8s 6d. The principal unsecured creditors, whose claims amounted to £490 'life sd, were Messrs. Basten, £23; H. B. J. Bull, £32 lis 4d ; J. H. M. Carpenter, £25 3s 2d; J. H. FJhsdon,.£s2;l2s4d;; Kauri Timber Company, £20 iSa: 6ii; D. G. ;Mackinlay, £52 13s 8d; A. Mc6>ll, £73 Is f Taupo Totara Timber Company, £32 5s 6d. The only secured creditor was Edward Withy, i the amount of debt being £215, and the : esti/ mated value of the secured property £232.

The /bankrupt, in her statement, said that she had become possessed of the property included in her bankruptcy as sole beneficiary under the will of her late husband, Mr. J. B. Langley, . who died on February 18, 1911. Acting on the adviceshe received, the will ■ was nrft proved at the time of * his death. ;i She had understood that the liabilities at that time had considerably exceeded the assets, arid, as she had been very desirous of clearing her husband's property of liabilities, she had induced her son, Mr. J. H. Langley, 1 <to carry on his business. - / . / In response to Mr. McColl, the official assignee §aid.that Mrs. Langley had been forced to file her schedule by a creditor ,who was not present : at the meeting. Mr. McColl: Well, .I consider that the man who forced her to file should be here. If we could get him here we would tell him what we thought of him.

Another speaker remarked that, misfortune might fall on each man present. Most were married, arid they would -riot like to think thatHheir wives might be adjudged bankrupts simply because of misfortune to their huebands. / Several creditors spoke in favour of Mrs. Langley being made a present of all her assets. • . J . ■

A motion 1o that effect, and a'motion to the effect that the official assignee Should expedite the' bankrupt's discharge, were carried unanimonflly. .. • , THe nfeeting i lien.adfcnrned until a date to he fixed .by the assignee, when the resolutions carried at yesterdays "meeting mil he formally confirmed. v