BANKRUPTCY MEETING

Otago Daily Times, Issue 21985, 21 June 1933, Page 5

BANKRUPTCY MEETING

CREDITORS DISSATISFIED FURTHER INVESTIGATION TO BE MADE The meeting of creditors in the estate of Thomas David Marshall, which was adjourned from June 6, was continued yesterday before the official assignee (Mr J. M. Adam). The bankrupt’s unsecured creditors were shown at £291 0s 9d, and the only assets were book debts amounting to £63 10s 6d, estimated to produce £SO 10s 6d. leaving a deficiency of £240 10s 3d. Mr C. M. Barnett, who represented Mrs Taylor, said that he understood that there had been an allegation that a partnership existed between the bankrupt and Mrs Taylor. His client denied that there had been any such partnership, but felt that she was morally liable for one or two of the debts incurred by the bankrupt, although she did not agree that she was legally liable. She wag prepared to pay such a sum as would amount to 5s in the f on the bankrupt’s liabilties. with the exception of maintenance and one or two other personal debts incurred by Marshall. The offer was made entirely without prejudice. The official assignee said that such , a dividend could not be limited to certain creditors to the exclusion of others. ■ Mr Barnett said that Mrs Taylor felt that she was in no way bound to pay the maintenance owing by the bankrupt. The official assignee repeated that the difficulty attending such an offer was that he could make no distinction among any of the creditors in the distribution of a dividend. After the bankrupt had been examined on a number of details in connection with his financial activities, the official assignee stated that the bankrupt’s behaviour had been most unsatisfactory, as he had incurred debts in his own name when he was virtually bankrupt. Several creditors also expressed dissatisfaction with the bankrupt’s activities, and opposed his discharge. It was finally decided that the matter be left in the hands of the official assignee with a view to seeing what could be secured from Mrs Taylor, and also, if the official assignee thought it necessary. that the bankrupt’s affairs should be placed in the hands of the Crown solicitor for investigation.