MEETINGS Of CREDITORS.

Otago Witness, Issue 1906, 21 August 1890, Page 5

MEETINGS Of CREDITORS.

Bk John Laykuty.

i A general meeting in the estate of John Laverty, hotelkeeper and'stdrekeeper, of Hyde arid<NeUthorn, was held in the office of the official asVjrnee 'on Friday' afternoon.' tfbere were 11 creditors present. The Assignee' explained tbat tho meeting had been called to open tenders, but as it happened there was only one tender, which he would open. Mr Aanorolt said that the tender was from Mr Qeofge Hither offering £805 los for the Hyde assets, excepting tho V Mr M'daviu moved, and Mr Hyman seconded— " That Mr lather's tender of £3u5 10s for lots 1,3.4, 5 and 6. and £500 due to the Colonial Bank be accepted." The motion on being put to the meeting was carried, Mr Qrindley dissenting. . On the motion of Messrs Grindley and Baxter It was unanimously r«olyed-"That the method of dealing with the gold mining shares, and the carrying on of the Nenthorfl business bo left to the " B Mf BaxteVrJetTnd' Mr Joel .econded *- That the bankrupt be recommended for discharge. Carried unanimously. The meeting was then adjourned sine ate. Be T. Lindsay. Au adjourned meeting of creditors in-tfae estate of T. Lindsay, Btock dealur, of Palmersfcon. was held nt Ihe official assignee* offloe on Friday afternoon. Mr F R Chapman wppearod to advise the assignee, and Mr Sim for Mr M'Ghle. There were also six creditors VT The Assignee said at last meeting it was decided to take Mr Hsggltf* advioo with reject to a question of fraudulent prefereuce, but as Mr Haggitt was acting for one of t.he creditors in the estate, he K ot an opinion from Mr Chapman. It was aduiitted that there were some doubts about the oase, but, on the whole. Mr Chapman inclined to the belief that it. was n fair case to bring before ithe judge. It raust be thoroughly understood thAt it did not follow, if even there was a case of fraudulent preference, that there was any blame attachable to persons implicated in it. It was quite posiible under the law for an innocent person to get the benefit of a fraudulent preference. Therefore, although the act used the term" fraudulent preference." there was no necessity for supposing that there had been anything in the nature of fraud in the present case. Jo had been suggested that there might be some other cate of fraudulent preference in the estate beside the one he had taken an opinion about. He, however, could*notr discover anything of the dot*, ; bufc undoubtedly if the one ca«e was suuceseful, aud other cases cropped up which came within the clause of the aot relating to fraudulent preference they would bo certainly followed up. Mr Todd (New Zealand Loan and Mercautila Agency Company) »3ked what was, the amount of the sum that could be disputed. The Assignee replied that it was thought that there was a sum of £420 that the Farmers r Agency Company got the benefit of by a reduction in tbelr acoount to that amount within three months of the bankruptcy. . . . Mr O. Held move*-" Tbat the assignee be requested to apply to the Farmers' Agency Company for the amount by whioh their account was reduced within three months of bankruptcy, failing which to take proceedings for its recovery. Mr Todd seconded the motion, which was carried. The Assignee said there was nuother matter he wished to bring before the creditors in regard to tna

«nare Ruby. There was a dispute about the owner- 1 «hlp of the mare, and Mr M'Ghie, who claimed her «a hia property, had applied to him about the matter. It whs agreed between Messrs M'Ghie, Stout and Mondy, and himself that the matter should stand over till he had examined the bankrupt. Last week be got intimation from the bankrupt that he was •willing to see him, but the dootor thought he was not In a fit state to be examined. He, however, hoped that in the course of a week he would be. Mr Sim caid some time ago he asked Mr Flndlay to ascertain from Mr Lindsay what the faots were in connection with the mare Ruby, and Mr Findlay wrote stating that Lindsay advanced M'Uhle £50 to buy the mare, and that it waa repaid partly by the mare's winnings, and partly by money paid to Allan. That was Liudsay's statement, and It was also M'uhie a statement. Mr Allan said he always understood that the mare belonged to M'Ghie and Lindsay both. Mr M'Kay stated that he heard a conversation between Allan and Lindsay, and the latter said he was the owner of Huby and other horses. The Assignee said it was a singular thing that when the horse was sold Mr M'Ghie stood by and said nothing about the sale. Mr Sim said that was the reason why Mr M'Ghie claimed the prooeeds of the sale. The Assignee said he would not give up the proceeds until it was proved that the mare belonged to Mr M'Ghie. After some further discussion it was left to the Assignee to aot as he thought bflfct with regard to the matter in dispute. The meeting then adjourned sine die