MEETING OF CREDITORS.

Star (Christchurch), Issue 6830, 18 April 1890, Page 4

MEETING OF CREDITORS.

B. DE MALMANCHE, SAWMILLER, OF GOUGH'S BAY. A meeting of the creditors in this estate was hold in the office of the Official Assignee. Mr W. A. Thomas presided, and Mr T. G. Russell appeared for the bankrupt. The bankrupt's statement of accounts showed uusflcured creditors .£472 53 2d. Sedured creditors i 2804, estimated to produce full amount. Assets, furniture j6lO ; deficiency .£462 5s 2d. The principal unsecured creditors are : — J. Vangioni, Akaroa, £90; A. F. E-jberta, Waikerikeri, .£IOO ; C. Brown, Akaroa, JS«B 11s; V. V. Masefield, Akaroa, .£35; F. Cross, Christchurch, .£4O. The seemed, creditors are : Mercantile Finance Company, Christchurch, ,£610; H. Piper, Akaroa, .£150 ; F. H. Bruge3, .£44 ; total, £804. The debtor in his statement said that he started business in August, 1888, with nearly .£IBO. The cause of his failure was badness ol the machinery and nccidents thereto, and pressure from creditors. The bankrupt stated that his son had been in business with him till two months ago, but he owned no horses. His wife had an interest in some l»nd at German Bay. Ie waa left to her by her father, and was vested in trustees for the benefit of the children. Bankrupt had put no money of his own into the land. The timber at the mill was included in the bill of sale to the Mercantile Fjnance Company. Bankrupt could not make aDy offer to the creditors. The second bill of sale to the Company was executed about three weeks ago. Some of the debts were incurred during his partnership with his son. The meeting then terminated.