BANKRUPTCY.

Taranaki Herald, Volume L, Issue 11935, 8 April 1902, Page 2

BANKRUPTCY.

MEETING: OF CREDITORS. A special meeting of creditors in the estate of John Abbott, formerly carrying on business as a tinsmith, plumber, etc., in Devon-street, was held in the D.O.A.'s office on Monday afternoon. Present : Messrs E. Gerard, D.O.A. (chairman) : D. Berry as proxy for Auckland Drug Co. « •. 6 19a), Briscoe & Co. (£305 5s 7d j, A. T. Burt & Co. (£212 Is lid , T. Ballinger & Co. (£9O Os 4d), T. & f . Morrin & Co. (£24 16s 9d), S.ewart Timber Co. (£lO1 15s 9d),Wingate& C©.(£B4 5s 7d): O. Samuel was proxy -for McEwen Bros. (£6"si'Bd), Sole Bros. (£33 13s 7d), J. Butterwbrth (£5) ; G. Grey was proxy for Grayson & Cock (£4 4s 9d), W*. Morey & Son (£33 ]8s SJ) ; S. W. Shaw was proxy for the late T. White (£SO) ; R. Smith (£l3 15s) ; C. E. Bell ringer for Bellringer's estate (£9 13s lOd). Bankrupt was not present. Mr Samuel represented Mrs Abbott. Mr Hntchen (Wright & Hutcben) explained that in general he had gained the impression that the accountant's investigation had been compiled- from unreliable material. He held that ' there had been extravagance on the part of bankrupt, but he could not recommend an .action against Mrs Abbott for the recovery of moneys paid her by bankrupt on account of her boarding house. < ? The Assignee' concurred 1 with Mr Hutchen's opinion not to fight. „- ' : Mr Shaw moved, That the resolution of September 4, 1901r.-"(in3tructing < the ' Assignee to take action . against Mrs '- Abbott ) be rescinded, and that the D.O.A. proceed with the 'realisation .of the balance of assets and their distribution without delay. • > ■•-;.' , Mr R. Smith seconded the motion. Mr- Berry moved- as an amendment, That proceedings against Mrs Abbott should be taken to recover payments made by bankrupt on her private account. Mr Berry seconded - as proxy for Briscoe and Co Mr Samuel spoke against the amendment. Mr Berry spoke in favour of the amendment being carried? - The Assignee pointed qufc that under the clause of the Act there would have to be a clear majority in numbers as well as three fourths of the creditors' claims represented in the room. It was agreed that any resolution in reference to the matter should be made a special resolution, in order to give creditors time for further consideration. Such a resolution would require the above number and xalue vote. *'"' After some discussion it was learned that as the meeting was ' constituted neither the amendment nor motion would be carried as a special resolution. The position being unusual as to number and- value- it was resolved to- let the whole matter Btand over to allow Mr Berry to communicate with creditors' Mr Berry said that if then it would be a question to be decided by his claim ho would do what he thought just. The meeting was then adjourned till April 18 th at 3 p.m.