MEETING OF CREDITORS.

Star (Christchurch), Issue 6436, 16 March 1899, Page 3

MEETING OF CREDITORS.

RE P. W. HASLAM. An -adjourned special meeting of 'creditors in the bankrupt estate of F. W. Haslam wasTreld at the office of tlie Official Assignee this morning. ,' . The Official Assignee said that tire-meeting had been called to confirm or reject the resolution that was passed at the previous meeting, which provided, under certain conditions, for the payment of the sum of £1250 to the creditors in monthly instalments extending over a period of five years. "He read the full text of the resolution. MrW. T. Charlewood moved, an3TMr N. G. W. Hanmer seconded, that the resolution be confirmed. Mr Tf. Wells said that he dissented. He asked whether, some of the creditors held I such security that, with their share of the composition added, they would get nearly 20s in the £. The Official Assignee said that MfWells's surmise was correct, and it was a position. [ that he "had fought against as much as he could. The most glaring instance in fhisose was that of Mr Bates. He (the Official Assignee) had got an opinion from Mr Stringer on this point/and, knowing that there would be considerable feeling against it, had referred it back to that gentleman in order that the opinion might be as conclusive as possible. "He had, in fact, ventured to argue the point with the Crown adviser, but he had got the worst of the argument, and the opinion was -maintained. Mr Wells remarked that the laws wuich permitted what he had referred to could not] be good ones, v The Official Assignee cited similar cases to •. the present one. . t Mr Izarcl said that in Mr Leonard | Harper's bankruptcv he had proved against! all the estates, and got 4s 6d in the £,-; whereas other unfortunate creditors had to ] be content with 6d in the £. ! Mr Wells : It> good to "be a lawyer. ] Mr Izard : Sorely your moral principles j would, not prevent your stepping into the , same position if -possible? ((Laughter.) The motion was carried, Mr Wells dissenting. Mr W. Hi Gundry asked as to the acceptance or rejection of 'Mr Wells" s proof of debt. Mr laird said that legal opinion would oe taken on this matter. One small credit"" should n^t be allowed to interfere with th? arrangements decided on. In answer to Mr Bates, Mr Tzard said tint Professor Haslain had provided for the payment of the. monthly instalments under Hip composition accruing since the date of the bankruptcy in October last. The Official Assignee said that Mr Izard would prepare the deed of composition, an-» ho would then report to the Supreme Court in connection with the application for the annulment of the bankruptcy. The proceedings then closed.