IN BANKRUPTCY.

Gisborne Times, Volume XXVII, Issue 2543, 2 July 1909, Page 3

IN BANKRUPTCY.

W. J. M. ATT WOOD’S ESTATE. The first meeting of creditors in the insolvent estate of William John Alark \ttwood, second-hand dealer of Gisborne, was held at the office of the Official Assignee (Air. J. Coleman) yesterday morning. There was a small attendance of creditors. Air. J. RKirk represented bankrupt. Bankrupt’s filed statement, showing a deficiency of £l5O 3s lid, was read. Examined by the Assignee, bankrupt said he had no property. He gave his furniture over to his wife shortly after they were married five years ago. 1. Jiis was before he bought the business. He did not owe any, money when ho went into business, and had £3B clear cash. The business paid fairly well for twelve or eighteen months. One creditor pressed him twelve months ago, and that caused other creditors to -pfess him. He took a mortgage on the buildings for £4O and paid liis creditors. Shortly after he borrowed £SO from Air Piesse to pay other creditors. For the last twelve months he had been struggling on. trying to pay everybody 20s jn the £. On June 17th Air. Jeune got judgment against him for £29 10s, being for rent, rates, and insurance. He attributed his bankruptcy to pressure of creditors and slackness of trade. To Air T. A. Coleman, for Air Jeune, the insblvent said ho did not remember telling him in February last that he owed no other accounts excepting Mr. Jeune’s. He might have said he was pushed, and' was getting on his feet again, barring Mr. Jeune’s account, lie sold a lot of goods to Air. F. Hall, but they were not paid for. Air-. Coleman: Did you not within a week of the bailiff going in send several loads of goods away? No. You are on your oath, remember? I know what lam saying. Everything is shown; in the books. Questioned by tho . Assignee, bankrupt said several articles which he had received to sell on commission were returned, but he did not make an entry of them. Mr. Coleman: Did you make out a list of what goods you, sent out, either commission goods or otherwise, during the month of June? Yes. . ■ Air. Barlow: Did one of your largest creditors advise you to file your schedule and he would stand by you? No: Didn’t you tell somebody that you were so advised? No. Bankrupt said ho went to Mr. Coleman when ho got a summons, and asked for time for payment, which ho did not get, and he went to another creditor to try and borrow the money, but tire latter refused, and told bankrupt lie had better file. air. Coleman -ointed out that tho whole trouble had arisen through bankrupt not keeping faith with his promises. The bankrunt was instructed tovprcparo a list as suggested by Air. Coleman,' and the mooting adjourned, in the meantime the Assignee to realise on the property.