CREDITORS MEET.

Ashburton Guardian, Volume 57, Issue 246, 29 July 1937, Page 4

CREDITORS MEET.

ESTATE OF LATE J. R. McRAE

DISPOSAL OF HINDS STORE. The fact that the general store at Hinds had been disposed of, and that there was an amount of £2698 in hand, sufficient to pay a. dividend of 6s 8d in the £, was reported by the Official Assigue (Mr W. Harte) at a further meeting of creditors in the bankrupt estate of the late John Rennie Mcßae, storekeeper, of Hinds, in Ashburton this morning. Creditors having raised doubts as to the validity of the claim of Mr John Mcßae, of Timaru, father of J. R, Mcßae, it being held that he was a partner in the business, a statement in regard to the position was made by Mr W. H. Walton, of Timaru, who appeared on behalf of Mr John ,Mcßae. After considerable discussion it was decided that the Assignee should be recommended to reject John Mcßae’s proof of debt in so far as it related to the item of £2934 for cash purchase of the Hinds business.

Later this was withdrawn, and it was decided that the Official Assignee be given a free hand in regard to the rejection of the whole or part of the proof of debt of John Mcßae. The Official Assignee : It Is going to be a fight between the creditors and Mr Mcßae. I wanted the creditors to know what the position is. I have been battling for this for two days, without success. It was stated that of £I2OO in book debts £BOO had been collected, and there was still the disposal of a motorcar to be taken into account.