MEETING OF CREDITORS.

Star (Christchurch), Issue 9789, 4 March 1910, Page 3

MEETING OF CREDITORS.

The creditors in the estate of Jane Croskay Guy, deceased, met this morning at the office of the Official Assignee, the Assignee (Mr J. Evans) presiding. Mr Rolleston appeared for the relatives in tho estate. The Assignee said that the estate had been placed in his hands on account of its being really bankrupt. He had received a statement from Air Rolleston in which it was said that Mrs Guy had died suddenly in Christchurch on September 24, 1909. After the death of her first husband sho had been in business as a storekeeper at Annat for throe years. She had married John Guy in September, 1908 f and in August, 1909, leased tho large dwelling-hou.se and store to W. A. Pease for uve years at £65 per annum. The other portion, of tho property had been leased to J. Broughten at £2 8s per month. The will of'tho deceased, in which she had left her furniture to her daughter, and tho remainder of the estate for the maintenance of her six children, had been proved in 1909, and there had been no idea up till that time that the estate was anything but solvent. (The furniture had been sold for £35, and a piano, valued at £lO, was still unsold. The interest on the first and second mortgages and instalments on the second mortgage being in arrears, Messrs Wilding and Acland had proposed to sell the estate through tho Registrar, but the first mortgagee would not release. In the middle of February the parties had met, and agreed to sell the two properties, but the sales fell through. Tho assets were about £3O, but there was a prospect of something more being obtained from the vendor of a section on which £23 had been paid out of £4O owing. The statement showed unsecured creditors for £ll9 7s 4d and secured creditors for £550, against which the estate was valued at £550. The Assignee said that it was doubtful whether the properties were worth more than the mortgages, and it would be difficult for him to realise, as they were burdened with covenants. He did not think that anything would be got out of the properties. It was resolved that the matter should be left in tho hands of the Assignee and the largest creditor to realise to the best advantage.