IN BANKRUPTCY.

Stratford Evening Post, Volume XXXI, Issue 79, 15 November 1911, Page 6

IN BANKRUPTCY.

RE GEORGE BIANCHI. A meeting of creditors in the estate of George bianchi was held tins morning at the office of the Deputy Official Assignee (Mr A. Coleman). There were present: Messrs J. A. Thompson, A. J. Davey and W. Wickham. The statement of assets and liabilities showed that the only asset was stock-in-trade (£ls), and that the amount owing to unsecured creditors was 6107 9s 6d, leaving a deficiency of £92 9s 6d. The chief creditors were J. McCluggago (£35), and F. S. Pollock (£ls), the amounts owing to other creditors being small. There were no secured creditors.

The following written statement was made by bankrupt: About two years ago J purchased the Commercial Stables from Mr G. McDonald, paying ~£lOO for same with cash obtained from giving Mr Newton King a bill of sale for £95 over the stables. 1 ran the business for about two years, and during that time I got into debt through losing several horses and general losses on running the business. 1 then sold the stables to Mr Wiley and with the money obtained I paid off Mr Newton King’s bill-of-sale. This was about the February before last. Since then 1 have been working as a groom and carrier. 1 worked for Mr Cox in the stables and I have not yef received the full amount of wage's due to me, £ls being still due. 1 then went to work for Mr L. Revoll, carrier, and he also filed his petition in bankruptcy without paying me the amount of wages due (£ls). 1 am now engaged at Gooch’s stables earning £2 5s per week, but I have not been able to pay up the debts contracted whilst I was in business. I was pressed by several creditors, and, being unable to- meet their demands, filed my petition as a bankrupt, as it was the only way out of the difficulty. 1 have no assets other than the two debts stated, except a guarantee from Mr Wiley of £75 to recompense me for any loss occasioned by running the Kaponga coach. 1 lost through running the same for him and therefore claim the amount of the guarantee.

Mr Wickham moved that the bankrupt’s discharge be facilitated on bis promise to pay 10s in the pound on his proved debts, bankrupt to pay 10s weekly.

This was not seconded and on the motion'of Mr Thompson seconded by Mr Davey it was decided that discharge be facilitated providing bankrupt paid live shillings weekly until 10s in the pound has been paid. The meeting then adjourned sine die.