MEETING OF CREDITORS.

Otago Daily Times, Issue 14277, 28 July 1908, Page 8

MEETING OF CREDITORS.

An adjourned meeting of creditors in the bankrupt estate of John Nash (deceased), late hotelkeeper at Ettrick, was held yesterday afternoon. The Official Assignee explained that since tho last meeting a full valuation of tho stock-in-trade, etc., had been made. The furniture and articles in the stable wore set down at £119 6s 4d, the blaoksmith's shop at £46 15s 6d, and it. was estimated that the book debts would produce £50. A telegram had been forwarded to Mis Nash asking tor for a statement of receipts and expenditure since her husband's death, but she had replied that she did not keep any books, always expecting things to be settled. He had reoeivod a declaration signed by Mrs Nash, in which she claimed a gig, a horse and harness, -valued at £29, also part of the furniture, the oost of which was £12 lis. These things she sadd she had bought herself out of money left her by her mother in her will. A valuation, purporting to be made of the stock, eto., at tho time of bankrupt's death, did not show anything of a claim by Mrs Nash, and there was nothing to show that there was any claim against that sttoclc, etc. Since the bust meeting Mr H, Hart, of Messrs Simpson and Hart, had produced a mortgage on the lease, aJid in that mortgage it was ciaimcd that the firm had a right to sell at any time after tho mortgagee should become bjnkrupt or insolvent. He (tho assignee) had referred the mortgage and lease to his solicitor, and he had slated that tho time had passed by in which it, was possible for tho mortgagor to exerciso that power, and that lie (tile assignee) was the only person who had that right. He had written to Mossns Simpson and Hart asking to what extent they would cooperate with the creditors in the direction of obtaining the best possible results for th«? benefit of the creditors as a whole. Mr Hart now informed him that there was a bill of salo from Mrs Jones, from whom bankrupt had purchased. That, was four years old. Ho considered that that bill of sale was absolutely void as against the assignee's part in the business, as it. was not from the bankrupt at all but from another person from whom bankrupt had purchased. Mr 11. Hart said his firm was quite satisfied about, their lc/al position in the matter, but it would not pay thorn lo exercise their right of sale,, as if they did it was provided that the rent should 1)0 increased by £1 per week. The question was, ho considered, what was the best way to realise. It was then decided by the meeting that the assignee be authorise to realise to the best possible advantage, and to treat privatelv in the disposal of the assets if it was oonsidorcd that that stop was in the best interests of tho estate.