SHEEPFARMER'S ESTATE.

Press, Volume LXIII, Issue 19164, 22 November 1927, Page 5

SHEEPFARMER'S ESTATE.

• » - ALLOWANCE FOR FURNITURE. A meeting of the, creditors of E. A. Broughton, sheepfarmer, adjourned from October 25th, was held yesterday morning, Mr A°. W. Watters, Official Assignee, presiding. Mr H. J. Bes'wick appeared for the debtor; Mr A. F. Wright for Messrs Duncan and Cotterill; and Mr W. Cowlishaw for Messrs J. E. and W. H. Alexandre. Mr Watters reported that he had ascertained that there wias nothing for the creditors in debtor's insurance policy. One section at St. Martin's had "been sold, and four were unsold. He (Mr Watters) had no money in the estate in hand. Mr Wright moved, and Mr Fountain seconded: "That bankrupt's furniture be returned to him." Mr Watters said that under the Act debtor was entitled to furniture to the value of £25, and if the creditors desired to give him furniture to the value of £SO in excess of that amount, the decision would require to bo by special resolution, which meant that the motion must be agreed to by h majority of the creditors present, and that the majority must represent 75 per cent, of the value of the total of the debts owing to creditors present. Some discussion ensued regarding the value of the furniture in the debtor's house in Knowles street. Mr Cowlishaw said that, instructed by Mr Alexandre, he would oppose the motion.

Mr Beswick said he thought that the value of the furniture had been overstated. He had not seen the furniture in the Knowles street' house, but that at Oakleigh would not fetch much more than £SO. Mr Watters explained that the furniture in the Knowles street house was claimed by Mrs Broughton, and it iniplit involve a lawsuit if it_ was claimed for the estate. It was just a question whether the creditors would be any better off after paying Court costs. ■ , Mr Cowlishaw said that if it was going to cost more than the furniture was worth to establish its ownership, it /was- not worth-thinking about it. . ..;.". , Replving to a creditor s question, debtor'said that the furniture, including a piano, was insured for £ooo.

His wife's rneome iraa 10b, not £lO per week. On a vote being taken, Mr Watters announced that the motion had been carried as an ordinary motion, but not as a special resolution. The meeting resolved unanimously: "That furniture to the value of £*o be handed back to the debtor."

Replying to a creditor, debtor said that his motor-car cost, when new, £725; it was bought on the hire purchase system, and the sellers had repossessed themselves or it; £2OO had been required to complete the purchase.

Reference was made to debtor's brother having bought the car, and Mr Cowlishaw expressed the opinion that the matter should be looked into.

Mr Watters said that Dominion Motors, having re-possesscd themselves of the car, was there anything to prevent them selling it for whatever they liked? A creditor said that any enquiry into the motor-car matter would not affect the creditors one hit. The meeting was adjourned sine die.