A BANKRUPT COUNT.

Otago Witness, Issue 3168, 2 December 1914, Page 3

A BANKRUPT COUNT.

PROLONGED MEETING OF CREDITORS. ROTORUA, November 25. A sensational bankruptcy occupied the attention of the Official Assignee yesterday, when the first meeting of creditors of Count Rene de Montaigu was held. To unsecured creditors he owed 0825 10s and to secured creditors £550. The assets consisted of £1350, surplus of securities. The count has been resident here for nine months, during which time he ran through £2OOB. Prior to the outbreak of the war he was in receipt of £6B monthly from his father in Franco, but this was reduced to £4O. Cross-examination was in the direction of showing that the securities pledged belonged to a woman who, previous to his recent marriage with a local girl, had passed as his wife, and that he had no knowledge that the pledges were given. This the count denied. He was crossexamined at great length on this and on a bill of sale for £550 which he gave over his effects and which the creditors sought to upset. The meeting lasted till midnight, and continued all to-day. ROTORUA, November 26. The meeting of creditors of Count Rene De Montaigu ended last night. The creditors accepted the offer of two local solicitors to pay the secured creditor his debt of £550 and prove as ordinary creditors. The bankrupt had borrowed £2OO and £3OO respectively, neither party knowing that he had borrowed from the other. On discovering it they got a third party to advance bankrupt £550, transferring to him securities which were valued at considerably over £550. The solicitors stated that the chief reason for their action was a desire to get rid of De Montaigu. Bankrupt’s solicitor said he believed De Montaigu’s family would pay the debts in full. It was decided to return to the person formerly known as Countess De Montaigu furs, lace, and a ring, which she claimed as hers.