BANKRUPT AGENT.

Taranaki Daily News, 20 November 1924, Page 8

BANKRUPT AGENT.

AFFAIRS OF E. VINCENT. SOME ACCOUNTS DISPUTED. LITTLE HOPE FOR OREDITORS. The 'financial affairs of Edward Vincent, a bankrupt commission agent, of New Plymouth, were again reviewed at an. adjourned meeting of his creditors .at the office of the D.0.-A. (Mr .J. S. IS. Medley) yes terday. At the first meeting of creditors, on June 19, financial loos through alleged delay in tlie settlement -of accounts in connection with a partnership he had entered into, and inactivity through illne®s, were the chief icauses advanced ■by the bankrupt for his inability to carry on. He was then requested to draw up a detailed statement of his expenditure during the last three years, and a statement was presented yesterday. Mr. R. H. Quilliam, however, on behalf of one of the creditors (Mr. H. Derby), contended that the figures furnished were useless and that they were nothing less than a summary. After a lengthy discussion the general opinion was expressed that there was small chance of there being any payment to ci editors and the meeting was again adjourned. Mr. J. S. S. Medley presided, and the creditors present or represented were: Messrs H. Denby and Co. (Mr. R. H. Quilliam), V. Duff, F. H. Robertson and A. Ashley. Bankrupt, who was present, was represented by Messi’s H. R. Billing and C. H. 'Croker. Bankrupt’s accountant (Mr. C. T. Mills) was also present.

In the early part of the meeting some difficulty arose between bankrupt’s solicitors as to who was really acting for him. Mr. Billing said he was acting in this case, while Mr. Croker arg*ied that he had acted for Vincent before and he had had no notification of any change. The matter was then allowed to drop, and the business of the meeting was proceeded with. The statement of accounts as drawn I up by Mr. Mills were then read. AppendI ed statements by bankrupt disputed the I accuracy of several of the sums claimed Iby creditors. In the case of Derby Sand Co.’s account, it was contended that [the sum of £1250 should have been filed [as a counter-claim on account of alleged I damage to a Buick car. i In reply to thia Mr. Quilliam said [no mention had been made of the £250 I before.

Among other accounts disputed was that of Mr. F. H. Robertson’s. This was said to be “absolutely wrong.” “How did bankrupt’s personal and household expenses amount to £943 10s 4s ?” asked Mr. Quilliam.

•Mr. Mills said he was able to produce all particulars if they were required. He had been employed by bankrupt to drawup the statement and he had taken every care in doing so. In answer to another question by Mr. Quilliam, Mr. Mills said he did not (know of any furniture which had been •sold by Vincent.

“The statement of accounts is useless. We ask for a detailed statement and we get a summary,” said Mr. Quilliam. He considered that no real information had •been put before the meeting.

After further discussion Mr. Quilliam asked if there was any chance of the creditors getting anything, and if so, what was to be done to recover the money.

Mr. Medley said that so far as lie could see there was very little chance. The meeting was then adjourned.