AN ABSENTEE BANKRUPT.

New Zealand Herald, Volume L, Issue 15307, 21 May 1913, Page 4

AN ABSENTEE BANKRUPT.

TO BE BROUGHT TO AUCKLAND \ FIRE POLICY THE ONLY ASSET. The creditors of an absentee bankrupt decided yesterday afternoon to take steps to secure his attendance in Auckland so [ that he may be examined as to his affairs, , Allan James Thorburn, formerly a store- . keeper, of Opotiki, is the bankrupt in i question. His creditors met at the office , of the official assignee (Mr. W. S. Fisher), , who presided, those present being Messrs. . Syd. J. Nathan (A. H. Nathan and Com- , pany), A. B. Roberton (Heather, Roberton and Company), and James Donald (A. B. Donald and Company, the petitioning , creditors), with whom was Mr. J. Alexan- , der, the latters' solicitor. [ The official assignee stated that when ', debtor was adjudicated a bankrupt riotiI fication was sent to him at his only known address, Opotiki. No reply had been received, and no statement or schedule had , yet come to hand. During the last ' day. or two, however, Mr. Fisher had learnt the bankrupt was at .Cape Runaway. . He had probably heard of his ' bankruptcy, seeing that the assignee had J been apprised by Thornborn's solicitor of ' his present whereabouts. Mr. Fisher said ' he understood that the only asset in the estate was a fire policy in the Australian [ Alliance Assurance Company . for £150. Thorbu*n had had a fire and had put in a claim for. £200. Up to the time of the bankruptcy the ■ insurance company had 1 practically refused to pay the claim. The 1 only other matter which wanted inquiring ' into was as regards the business relation- ' ship between bankrupt and his brother. 1 The assignee said the two were believed -. to have been in partnership, but that im--1 mediately prior to the bankruptcy this 1 partnership was dissolved. A verbal offer 1 had been made by the representative of 1 the insurance company to pay half the > amount of the policy, namely, £75. Mr. Nathan: What are the bankrupt's liabilities? * > The Assignee: The full amount is not ; y\ot known. 1 Mr. Nathan : The firm used -to be styled : lliorburn Brothers. 1 The Assignee: ■ Yes. The insurance 1 policy is made out in both names. If * creditors desire to contest a claim against ' the insurance company I shall require an ' indemnity. ' t ! Mr. Nathan: The matter should cer--1 tainly be investigated. '' The other creditors concurred, express--1 ing their willingness to spend such money ' as might bo necessary. • ■■<■■'■''~ ' Mr. Alexander remarked that the in- ' surance company might say it had simply 1 indemnified the bankrupt against loss, and • that it was for him to prove his loss. 1 : The Assignee: He has, I think, put in '.: fairly good proof. As regards the alleged ' partnership with the brother, it is for the creditors to take action. » It was resolved, on the motion of Mr. ' Roberton, seconded by Mr. Nathan, 1 " That the creditors agree to find suffi- ' cient funds, pro rata, to bring the bank- ' rupt to Auckland for examination." I : ; ■. ==============