IN BANKRUPTCY.

Gisborne Times, Volume XXIX, Issue 3198, 20 April 1911, Page 2

IN BANKRUPTCY.

ESTATE OF VIVIAN CURRIE. ADJOURNED MEETING OF CREDITORS. The adjourned meeting of creditors in the bankrupt estate of Vivian Currie was held at the Deputy Official Assignee’s Office yesterday morning. The Deputy Official Assignee said that the meeting had been previously adjourned to secure the attendance of Hedley, a partner in the business. The police had made inquiries, but could not find any trace of him at all. The reason why he called the present meeting was because Currie had offered to pay 2s 6d in the £, and it would take something like £6O to do that. The only assets, consisting of some book debts, and they would only about pay the expenses of the bankruptcy. The debts proved amounted to £3ll, but some of the debts were not in. Mr. Kells pointed out that in a short time the business had resulted in an enormous loss. If the work had been done and the books kept there would not have been a loss. Mr Wachsmann said that he thought it was an affront to the creditors to offer them 2s 6d in the £. The bankrupt had been riding about on a stylish horse, and apparently had got any amount of money to spend. He had seen him driving a lady out in a hired gig, and this was not the attitude of a bankrupt. The bankrupt remarked that he had been working on the tramway line. It would take him nine months to pay the amount. Mr. Wachsmann said he did not feel inclined to accept 2s 6d in the £. The man could pay 10s in the £ if he wanted tmp- One butcher who had paid his ereckpors a few shillings in the £ had left Gisborne was now doing really well. , The bankrupt said he would be able to pay the 2s 6d in the £ in nine months, and his father would guarantee the amount. A creditor: To wait nine months is simply ridiculous. Mr. Wachsmann said there was no guarantee that they would get the money. If the bankrupt’s father had something solid to back him up they might accept it. The bankrupt a little time ago was crowing over his success. He said lie was doing really well, and he must have made a good start, but yet in a few months he was £4OO or £SOO to the bad. The bankrupt : I do not remember telling you that. Mr Wachsmann: I have a good memory, and some people have a very convenient memory. There was nothing in the price of meat to account for your present financial condition. There is nothing but bad management to account for it. The Official Assignee pointed out that the man who was at present m the business was doing very well. Mr. Wachsmann said that if they could only find Hedley he would probably tell them some of the most surprising statements they had ever heard in their lives. He thought it would be better to put the matter off till they could find him. Mr. Smith said that what he did not like about the bankrupt was the taking of a cow at 3 o’clock in the-morn-ing from his paddock. The cow was under offer to Currie at £4 10s, and when his (Mr. Smith’s) wife rang him up he said the cow never entered his shop. Three days later, when she called, she was told that he was out, but two men told her Currie was hiding upstairs. At this time he was in a state of bankruptcy, and after he stated he never took the cow lie put him (Mr. Smith) in as a creditor for the price of the cow, £4 10s. They wanted to get hold of Mr. Hedley, and he (Mr. Smith) did not mind standing the amount of the claim in order to get Hedley back. The .bankrupt: I have lost £2OO sinqe I have been in the business. Hedley had lost £4OO when I went into partnership, and £2OO was spent in paying back debts. in reply to Mr. Wachsmann, the bankrupt said Hedley was his brother-in-law, but he did not know where he was now. His (the bankrupt’s) mother never told him where he was. His wife (bankrupt’s sister) was with him, but he could not say where they had gone to. Mr. Wachsmann: Do you mean to tell us that your mother does not know where her daughter is? Bankrupt: She has not told me where she is. Mr. Wachsmann: If we could only produce Hedley it would put a much better’ aspect on the matter. Fancy a mother not knowing where her daughter is! I can assure you, Currie, tlie position you are taking up will not as-

sist you. Your sister must have said ■“• Good-bye” to your mother. It was decided to adjourn the meeting and endeavor to secure the attendance of Hedley. THE ESTATE OF S. R. A. GEANGE. FAILURE TO COMPLY WITH AN ORDER. A meeting of creditors in the bank-, rupt estate of Samuel Richard Allan Geange was held in the office of the Official Assignee yesterday afternoon, when Mr Blair appeared for the bankrupt, and Mr Barnard ropi'e-sentcd twoof the creditors, Messrs J. P. Gordon and B. Taylor, the former 0 f whom was also present. Mr Coleman explained that the meeting had been called with a view to ascertaining why the bankrupt had not adhered to the arrangement made on September 24th last, by which he was to pay £1 per week to the Assignee m liquidation of his debts. MY Blair explained that bankrupt had been earning money and had some money in hand. He was suffering from ulceration of the stomach, and had been advised by Dr. Wilson that it would be necessary for him to cease work for a time, and if the man was ill and could not pay on that acount it would be an act of extreme cruelty to force him to do so. The bankrupt, who was examined by Mr Burnard, said that lie had been earning £2 per week. 'On September 24th lie had entered into an agreement to pay £1 per week until the debts were paid, and at the present time he had £ls in hand. He possessed no property other than was disclosed in the statement made at the time of filing. His reason for not forwarding the payments was that he was ill and had been ordered to take a rest, and was putting his earnings away to provide for such a contingency. He did not consult Dr. Wilson until about a month after the former meeting of creditors. and at present lie did not know whether he would have to lie up. Since the meeting he had written to the Assignee saying that he was ill and would be unable to make the payments. Since writing that letter he had saved £ls, and bad, besides, bought two or three shirts, a suit, several collars, a, pair of trousers, underclothing, a pair _of boots, socks and a Panama hat at 355. During the greater part of the time since his bankruptcy in September he had been at Wliatatutu, and while there he had been found in board. He had been off work about three weeks since September 24th. and his expenses had amounted to about £5. He had paid 7s 6d to the doctor and spent 15s in medicine. Bankrupt did _ not know how he had spent the remainder of the money. Dr. Wilson’s advice had been given to him immediately before Christmas, and he had not yet been able to act upon it. He was now in the position to leave off working with the £ls he had saved, but if this was taken away from him he would not be able to do so. His home was on the Main Trunk line, about half-way between Wellington and Auckland, where his father was a small sheep farmer, having a farm of- 300 acres. Bankrupt did not know whether his father owned the property. Mr Burnard: Is it not right, Mr Geange, that you are about to be married?

Bankrupt: No ; that is not so. I put the rumour about Wliatatutu myself. Mr Gordon said that he had recently spoken to bankrupt about money owing to him (Mr Gordon), and had received the reply that bankrupt had received a letter from his solicitors, Messrs Blair and Sainsbury, to the effect that he had no need to- make the payments. Mr Blair suggested that the Assignee should ascertain if Dr. Wilson did really give the advice as stated. Mr Burnard said that the creditors did not want to deprive the man of his savings, but they wanted him to adhere to the order. In answer to a question put by the Assignee, bankrupt stated that he was at present in a worse state of health than he was six months ago. Mr Coleman asked,the bankrupt if he was prepared to give over the £ls he had saved, and bankrupt/stated that if lie did this, he, would lie unable to continue working much longer. Mr Burnard recommended'that bankrupt. be ordered' to pay over £lO out of the money that was coming to him (£5) and the £ls he had saved. In addition, he recomemnded that bankrupt he ordered to return the horse, saddle and bridle which 'the creditors had allowed him to have possession of, and that the Assignee sell these articles. These suggestions were agreed to and the meeting terminated.