ABSENT BANKRUPT.

New Zealand Herald, Volume LXV, Issue 20098, 8 November 1928, Page 15

ABSENT BANKRUPT.

SAID TO BE IN AUSTRALIA. ADJUDGED SINCE DEPARTURE. PATENT AS MAIN ASSET. Tho creditors of William John Abbott, company promoter, formerly of Auckland, who has been adjudged bankrupt 011 the petition of a creditor sinco lie left for Australia, met yesterday, tho official assignee, Mr. G. N. Morris, presiding. Mr. A. M. Gould appeared as counsel for tho petitioning creditor. Tho odici.il assigneo said bankrupt was, and had been for some lime, residing in Australia. llis wifo was in Auckland, but was not in such a state of health as to be able to attend. It appeared tho main asset in the estato was an interest in certain letters patent relating to a desiccating process for meat, known as meat flour, which wero said to bo very valuable. It would be necessary to niovo immediately to preserve the patent rights in various countries for the creditors, and to force bankrupt to hand over whatever letters patent he might hold in regard to the invention. For this purpose it might bo necessary to invoko tho aid of tho Australian Courts. As thero wero no funds available, it would bo necessary for the creditors to find money to meet tho expenses of protecting tho patents, and to arrange this matter was tho principal purpose of tho meeting. It was also mentioned by tho assignee that ho was aware of no other assets than tho patents, and his information as to tho creditors was incomplete. Mr. Gould said that in recent letters bankrupt had claimed to have sufficient means to bo able to satisfy his creditors. The meeting arranged that Mr. Gould should act as solicitor for the assigneo in tlio proceedings contemplated, and a committee of ihreo was appointed to assist tho assigneo in tho matter.