MEETING OF CREDITORS.

Otago Witness, Issue 3898, 27 November 1928, Page 77

MEETING OF CREDITORS.

BENJAMIN NEWMAN’S ESTATE. An adjourned meeting of creditors in the estate of Benjamin Newman, late of Port Chalmers, hotelkeeper, was held before Mr J. M. Adam, official assignee, on Wednesday. There were eight creditors present. Air W. L. Moore appeared for the bankrupt. The official assignee said that since the last meeting Mr Clatworthy, the bankrupt’s partner, had called on him and made a statement, which was practically the same as that of the bankrupt. In his statement Clatworthy added that he was aware of the sale of the hotel to M'Kenzie, but there was nothjng in writing as between him and bankrupt. After the sale fell through he did not go back to the hotel. In May last he gave Newman a month’s notice of the termination of the partnership, and it was terminated in the following month. Since then he.had had

no word or dealings with Newman. If the sale to M'Kenzie had gone through everything that was owing would have been squared up. The ba’ance sheet up to June 28 showed that he owed the partnership £ll2. There had never been a suggestion that he owed £214, which was the amount set out in the bankrupt’s statement, and he had no idea how the amount was made up. He could not make any offer regarding the £ll2 at the present time. Examined, the bankrupt said that from the beginning of June to September 7 his takings were £1032, and the outgoings totalled £977. The balance was retained by the bank for interest on overdraft. He had no offer to make to the creditors. The meeting was adjourned sine die to allow further inquiries to be made from the parties concerned.