THE MORTENSEN ESTATE

New Zealand Herald, Volume LIX, Issue 18040, 15 March 1922, Page 5

THE MORTENSEN ESTATE

OFFER TO THE CREDITORS.

THEIR DECISION DEFERRED.

STATEMENT STILL WAFTED.

j The third meeting of creditors in tho 1 ' bankrupt estates of Hans Peter Morten- ' i sen and his wife, Kathcrine Anr.io Morj tensen, was he'd yostei day at the office i of the official assignee, Mr. W. 8. Fisher, to consider an offer by bankrupt's friends I to pay 4s in tb.6 £ provided the bank- ! ruptcy were annulled. Mr. Anderson ' appeared for both bankrupts, the prinl cipal of whom was also present. ' The official assigneo, who presided, explained that the last meeting had been adjourned for a week to give bankrupt an oppoitunity of making further arrangements with his cred.tois and to furnish a statement as to how he arrived at his present position. A lengthy statement , had been lodged by the bankrupt, but I he did not think it shed much light on I the bankrupt s position. Briefly tho statement was to the effect that in December, 1916, the bankrupt owned a farm at Runciman in which his nominal ' interest was £950. During the five and a-half years subsequent to the date mentioned, the bankrupt had made 22 land i.transactions. The result was that he appeared in that Court and showed in his schedule a nominal surplus of £5450 63 Id. The aswta a most exclusively consisted of an equity in a property at Cheltenham. It was for the meeting to judge whether there was any value in the assets. Dissatisfaction was expressed by a number of creditors that the bankrupt had not furnished a detailed statement of his receipts and expenditure. The official assignee said the creditors were entitled to such a statement covering the last three years. Mr. Tompkins, representing two largo creditors —one at Palmerston North and one in North Auckland—said he had communicated with his clients regarding the offer of 4s in the £, and was awaiting instructions about the matter. He suggested a further adjournment to enable replies to be received. If the creditors mentioned were not willing to accept the offer it would be useless proceeding with the matter. It was decided to adjourn the meeting till March 29, to enable replies to be received from distant creditors, and to give bankrupt an opportunity of furnishing a statement of his receipts and expenditure for three years prior to his bankruptcy.