BANKRUPT CONTRACTOR.

New Zealand Herald, Volume LXVI, Issue 20420, 23 November 1929, Page 16

BANKRUPT CONTRACTOR.

CLAIM AGAINST COMPANY. DECISION NOT TO PROCEED. Acting on advice from (ho Crown Solicitor's Office the creditors of Robert Ernest Odd, contractor, of Auckland, decided yesterday not to proceed with a, claim which Odd had instituted against a brick company before his bankruptcy. The claim involved £7OOO. Tho first meeting of creditors had been adjourned to enable an investigation to bo made of a contract which Odd had undertaken foi- the erection of brickworks. It was stated that t lie company had terminated the contract and to that fact Odd attributed his bankruptcy. The opinion of Mr. V. N. Hubble was read at yesterday's adjourned meeting. "I am definitely of opinion that the •creditors should not proceed with the action," said Air. Hubble. "There can he no doubt that tho termination of tho agreement came as a surprise to Odd, but I cannot see that ho has legal grounds for a claim. The position of claims made by creditors individually against tho company may bo different!"

Mr. E. L. Bartleet, representing the company, said that it was intended to bring the caso to a head by having it called on so that it might be struck out. The creditors decided not to proceed with the claim instituted by the bankrupt, it being made clear that creditors' individual claims would not be prejudiced.