AN ABSENT BANKRUPT.

New Zealand Herald, Volume LXII, Issue 19143, 8 October 1925, Page 14

AN ABSENT BANKRUPT.

AGENT'S HEAVY DEFICIENCY. NO STATEMENT SUPPLIED. CASE REFERRED TO CROWN. " There is no question that this man should be punished. It is really as bad a case as I have had to deal with," said the official assignee, Mr. W. S. Fisher, when the affairs of William John Wall, indent agent, were under consideration at a meeting of creditors yesterday. Bankrupt was not present. At an earlier meeting bankrupt stated he started as a native tigent in 1920 when he had about £6OO in cash and held £3OOO or £4OOO in property, but he had lost on investments. The total liabilities in the estate were £2633 and the assets £262. Mr. Fisher said that bankrupt was adjudicated on August 28 on a creditor's petition and the first meeting of creditors was called for September 7. Bankrupt did hot attend nor did ha furnish information as to his position. It was then decided that he should be arrested for contempt of Court. However, on the following day he appeared and promised to furnish the information required, and the proceedings ware stopped. Bankrupt attended a further meeting on September 14, when it was decided to appoint an accountant to assist him to unravel his somewhat complicated affairs, so that a statement could be prepared. This accountant had informed the assignee that he had conferred with bankrupt, but although the latter made an appointment to continue the investigation on the next day he had not been seen again. However. a friend had telephoned, saying thnt Wall had gone to Gisborne and asking that he be given a few days more. The official assignee then said there was another accountant who had been investigating bankrupt's affairs, and he thought this man would be in a position to supply evidence sufficient to have bankrupt punished. Creditors could see that Wall had no intention of assisting in the preparation of the statement and wps simply dodging his responsibilities. Mr. Fisher also mentioned that a few days after bankrupt failed to keep his appointment with the accountant he had received a telegram from Wall from Wellington asking to be given a few more days grace. Creditors stated that bankrupt had given the impression that he was entitled to a fairly large sum under a will, but the assignee said that he had been given to understand that Wall's share of the estate mentioned would be £SOO at the utmost. The meeting carried a resolution asking the official assignee to have the facts of the case placed before the Crown solicitor with view to a prosecution.