LAND SPECULATION.

Taranaki Herald, Volume LXI, Issue 144083, 30 April 1913, Page 4

LAND SPECULATION.

LEADS TO SOLICITOR’S DIFFICULTIES. Per Press Association. TIMARU, April 29. Details of the bankruptcy case which created a sensation throughout the district became public to-day through the first meeting of. creditors. The insolvent is Walter Shaw, a solicitor who has been indulging largely in land speculation on his own behalf and, financing another speculation with other people’s money, and according to the statement made by his solicitors and the deputy assignee, ho has muddled the business badly. The unsecured creditors are estimated by the bankrupt as between 50 and 69 in number, and the total of unsccurcd debts at £30,693. The assets ore estimated ut £24,0-41. One large transaction in which the bankrupt was concerned with one Trcvurza appears to have been ii sale of properties, supposed to he worth £13,335, for £7500, but the purchasing company offers to cancel the bargain, on being repaid the deposit, with interest and-costs. About 100 creditors were present and six solicitors, representing different parties. To-day’s proceedings wore practically all concerning this, transaction and the meeting adjourned for a fortnight. It was stated that there are other creditors and other assets. The claims include sums of £3OOO, £2BOO, £2200, £2OOO, £I9BO. £I4OO, and nine others over £SOO. The bankrupt asserts that if the assets are properly realised ho will pay 20s in the £.