IN BANKRUPTCY.

Otago Daily Times, Issue 19042, 12 December 1923, Page 5

IN BANKRUPTCY.

INSURANCE AGENT’S LIABILITIES. A meeting of creditors in the bankrupt estate of Alfred John Greene, insurance agent, of Dunedin, was held yesterday, the Official Assignee (-Mr W. W. Samson) presiding. Mr W. L. Moore appeared for the bankrupt Tlie amounts owing to the unsecured creditors totalled £l2O 5s 6d, the principal creditors being Herbert, Haynes and Co. (£25), Mrs Dreaver (£18), J. T. oooper (£l6), A. Dickie and Co, (£ll 10s). The secured creditor was ±i. Divers (£3B 2s), who he'd a mortgage on furniture valued at £llO, leaving assets valued at £1 18s. In his sworn statement bankrupt set out that for the past 14 years he bad been an insurance agent cn commission. The amount earned averaged £5 per week, but travelling expenses left only £3 10s. About seven years ago his wife had to undergo an operation from which she never fully recovered, and at times she had to go to bed for as long a period as three months. Medical expenses had been very heavy, and his daughter had been unable to go to business owing to having to attend the mother. He had practically no furniture of any description, the furniture which he possessed being mortgaged for almost its fall value to Mr Divers. Some time ago he held a meeting of his creditors and undertook to pay 5s per week off the amount, but he had been unable to keep this up, and proceedings had been taken against him, this forcing him to file. Questioned, bankrupt said that he could not- make any offer. Further questioned, he stated that the furniture seen being removed from his house at North-East Valley early in the morning was his own and was being taken to the rooms to which he had shifted. Some old pieces of furniture not included under the bill of sale had been taken to the sale rooms. Mr Dickie asked bankrupt as to the amount spent on his daughter’s dresses, remarking that, when living at St. Clair, she was dressed as very few in that locality could afford. Bankrupt denied this, declaring that his wife mane all his daughter’s and her own clothes. After some further discussion it was decided to leave the estate in the hands of the Official Assignee to wind up, and, if necessary, another meeting will be called.