CREDITORS NOT SATISFIED.
RESTAURANT KEEPER'S BANKRUPTCY. INVESTIGATION BY CROWN SOLICITOR. The adjourned meeting of the creditors of James Wright Fynes, restaurant keeper. 285 Worcester street, was held yesterday afternoon, Mr A. W. Waiters, the Official Assignee, presiding. Mr F. T>. Sargent ap"peared for the debtor, and Messrs W. J. Sim, W. R. Lascelles, A. W. White, and W. J. Stacey, appeared for certain creditors. The first meeting was adjourned to give debtor an opportunity to produce his books of account. On the statement containing his replies to questions asked at the first meeting being read to him the debtor corrected two statements, and said that he had been about ten years~*in Sydney; he had never worked on tho Bridge of Remembrance, Christchurch, but had worked for Messrs Luttrell Brothers, and Messrs P. Graham -and Sons. Bankrupt's Books. Debtor produced three bank pass books and two little black books. Oue of these last mentioned, he said, contained all the receipts for rent, and the other recorded the monthly takings at the Union Cafe, Victoria street, and also the expenditure. "Have I got all your papers," Mr Watters asked.
"No, they would fill this room," debtor replied. This was reduced to "four potato sacks full," and the contents, he explained, were chiefly letters regarding unpaid accounts. Mr W'atters said that the books and papers had been delivered in a disgraceful state—great brown paper parcels. The papers had been gone ' through and arranged. Debtor described one book as containing "general notes." Another book, after ho had examined it, he said, contained "nothing at all." Mr Watters rend a statement, prepared by debtor, giving the cost of the erection of his house in Worcester street. The total cost was £1643 9s 3d, including £673 overdraft. He bought the house for £475. There was a first mortgage of £800; a second of £200: and a third for £4OO. Mr Watters said that Mr C. E. Jones, of Jones, McCrostie Co., had valued the house at £BOO or £9oo— at'the outside. '
In reply to questions, the debtor isaid that no man had given away more meals than he had. Tho result of 18 months' operations at the restaurant was that his takings were £BOO, and his expenditure £I2OO. Mr Sim: By May, 1926, he bad lost £450.
Question of Privilege. Mr Sargent submitted that debtor could claim privilege and refuse to answer questions that might incriminate him.
Mr Sim said it came as a great surprise to him that a bankrupt when he faced his creditors would not face them. He was surprised that a man at a meeting of his creditors should
attempt to shelter behind any section of the Act in order not to answer questions. Mr Watters said that if debtor took up the attitude that he would no! answer questions he would see that another meeting was called and bankrupt would he summoned to attend it. and he would not be excused from answering any questions. His (bankrupt's) answers could not be produced against him in the event of a prosecution being decided upon. Mr Sargent said tliat, when necessary, ho would advise bankrupt to refuse to answer questions. Two Businesses. Mr Sim put bankrupt through a searching examination regarding the books produced. Implying to questions, bankrupt said that when he left the cafe business in Victoria street he went in for "deals" in drapery stocks and furniture. "When he wanted monev, if there was £lO in the till he would take it. The record of these transactions would be "in some of these books." He went into the Black Cat Cafe, in June, 192o; he ran the two cafes together for a time. Are the two businesses mixed together in this book?— They would be mixed a bit! Do you consider that a proper wav of running a business?—lf you are short of cash you hare to do, a lot of tilings. Who is Mrs Curry?— Mrs Curry, of course.
Mr Sim repeated his question. "She is a woman—that's all 1 know," replied bankrupt. Do you mean that?— Yes, J do mean that. You hold her power of attorney ? She is still a woman. It came out ultimately that Mrs Curry had taken the Black Cat off bankrupt's hands in satisfaction for financial assistance she had given him; that she is at present in hospital in Sydney; that bankrupt is carrving on tbe Black Cat on her behalf, but (according to his statement) receiving no wages, but sending Mrs Curry £-Tper week.
Operations..with Cheques. Mr Stacey examined bankrupt at some length regarding cheques that bankrupt had drawn on his banking account. Bankrupt did not know for what a £3 cheque had been paid to a man named Arnold. Do you know Jimmy Arnold.* —I have heard the name. A series of questions regarding cheques for £3O and £SO drawn in favour of Ryan elicited that the cheques "would he to myself." You say that that cheque of £SO was paid to you?— Maybe. Never mind "maybe"?—l could not say! Will you swear definitely that these cheques were cashed by you?—l think so.
Referring to a series of four cheques counsel asked of bankrupt, when he drew them had lie sufficient money in the bank to meet them. Mr Sargent objected to the question. Mr Stacey: Does the bankrupt object to answer the question? Explaining why two of the cheques had been dishonoured, the bankrupt said that he had given the girls money to bank to meet the cheques. • Two of the cheques had not bean presented. Mr Stacey: Do you admit that yo't have used fictitious names when drawing; money for yourself. Mr Sargent objected. Mr Stacey (in commanding tones to bankrupt, who had seated himself): Stand up, and give me courtesy, Mr Fynes.'
The bankrupt stood up. Mr Stacey said that no question of privilege was raised; but bankrupt did not reply. Did you pay the girls their wages? —They took it. When ?—I could not sav.
Is it down in your books ? —The takings are there.
I>o you know what thev took? —How would I know what they'took. Investigation by Crown Solicitor. A motion was moved by Mr Stacey and seconded by Mr Sim: "That the bankrupt be publicly examined." The motion was not gone on with, Mr Watters explaining that creditors would get more information by means of a private examination before him. 'Mr_Sim: All that we are concerned with is that this man doesn't get a"«'ay without an exhaustive and thorough examination. . No one has got to the bottom of bis affairs yet, and he is laughing at us! Bankrupt: Nothing of the kind. On the motion of Mr LascelJes seconded by Mr White, it was resolved: ''That it be a recommendation to the Official Assignee that the affairs of the bankrupt be submitted by him to the Crown Solicitor for his investigation." The meeting then adjourned..
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Press, Volume LXIII, Issue 19159, 16 November 1927, Page 14
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1,150CREDITORS NOT SATISFIED. Press, Volume LXIII, Issue 19159, 16 November 1927, Page 14
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