THE SHAW BANKRUPTCY.

Star (Christchurch), Issue 10770, 16 May 1913, Page 3

THE SHAW BANKRUPTCY.

■— -» [Per Press Association.] TIMART7, May 16. 'l'ho second creditors meeting of the bankrupt solicitor Walter Shaw this afternoon was largely attended. The proceedings opened somewhat sensationally, by the Official Assignee reading a letter from his solicitor, Ml' Kinnemey, who had examined the bankrupt closely at tho previous meeting concerning his operations with tho Timaru Property Company, in connection with Trevuraa's estate. Mr Kinnemey's letter stated that exception had been taken to his methods of examination. He intended to pursue the same lines, if not at the meeting, through the Press, because he felt that tho creditors were entitled to a full public explanation of all dealings in the estate. Mr Kinnemey said he would not attend the meeting unless satisfied that his course of action had the approval of the creditors. After reading the letter a motion was immediately moved expressing approval of Mr Kinnemey's actio?, and curried with applause. The Assignee announced 104 creditors had proved, and called their names. Mr Moore, Dunedin, appearing for the bankrupt, presented a statement supplementary to the previous one, and said that since the previous meeting the claims had gone up by £IO,OOO. He had prepared a further statement, ehowing that if tho Timaru Property Company handed back Trevurza's estate to the creditors, Shaw's estate would show a surplus of about £13,000. Owing to claims being excessive, and securities having been found for a number of amounts for which the creditors had claimed, the assets, with the property of the company, would total £42,000, and the total liabilities would be reduced to about £29,000. In reply to a question, the Assignee said that it was impossible to state the position with any exactness. The claims totalled roughly £45,000, but many might be reduced and some perhaps increased.