IN BANKRUPTCY

Gisborne Times, Volume XXVI, Issue 2354, 21 November 1908, Page 3

IN BANKRUPTCY

MEETING OF CREDITORS.

A meeting of creditors in the insolvent estate of James Lang, bootmaker, of Gisborne, was held at the office of the Deputy-Official Assignee (Mr. J. Coleman) yesterday. The statement showed the assets to bo £595 12s sd, and the liabilities £591 3s Bd, a surplus of £48s 7d. The bankrupt 1 stated .that when he started in business about six years -ago lie was in debt to the amount- of £l5O. A number of Auckland wholesale houses helped him to start in business and agreed to give him credit. Before coming to Gisborne he had a business at the Thames. Ho failed about- four years ago, and paid his creditors 12s 6d in the £. He attributed liis present insolvency to slackness of trade and inability to collect his book debts. His creditors pressed him and he was forced to file.

m In reply to Mr Nolan, the bankrupt said that when he ordered a quantity of goods from Messrs Coles and Co., an Auckland firm, his creditors had not commenced to press him. He did not take any account ol : liis stockthis year. Mr Nolan, who represented three creditors -at Auckland, then applied for an adjournment until Friday next, at 11 a.in., to allow him time to re-, ceive statements of claims and 1 proxies, and that course was agreed to. Mr Coleman' said he had sent particulars of the estate to the Auckland creditors in the hope that a buyer would be found for the Gisborne and Tologa Bay businesses as a going concern.