Meeting of Creditors

Southland Times, Issue 13287, 14 August 1895, Page 3

Meeting of Creditors

An adjourned meeting of creditors in the estate of J. H. Kissel], saddler, was held in the Deputy Assignee's office yesterday afternoon, when about a dozen creditors, in person or by proxy, were present. The Deputy Assignee intimated that five tenders for the stock-in-trade had been received. There were read and an amended offer on behalf of the debtor was also made, but after some discussion it was decided that the latter could not be received ; also, after further consideration, that none of the tenders were - acceptable in view, of the list value of the stock It was thereupon resolved to submit the stock at auction in. one lot. Some demur. being made to this method, on the score of the expenses likely to be incurred MrEroggatt solved the problem by offering, in the interest of the creditors, to conduct the sale free of commission, an offer which was readily accepted with thanks. Mr C. S. Longuet, solicitor, on behalf of Messrs Wiggins, of Wellington,'creditors, directed the Deputy Assignee’s attention to certain clauses of the Bankruptcy Act, and questioned the debtor at some length as to bis transactions for some time prior, to his bankruptcy, with the view of directing Mr Rout’s attention thereto in connection with the Clauses referred to. Mr Rout said he was cognisant of the circumstances, and the provisions but did not think there was anything calling for special action, unless the creditors gave special instructions. One of the creditors remarked that it would be a capital method of squandering what little there was in the estate. The meeung was

closed by the passing of a resolution recommending the debtor for immediate discharge. ■