BANKRUPTCY CASES.

Dominion, Volume 1, Issue 209, 28 May 1908, Page 2

BANKRUPTCY CASES.

A- COMPOSITOR'S FAILURE. The first meeting .of creditors ill the bankrupt estato of Walter ''Prober!,. compositor, was conducted bv the Official Assignee :(Mr. 1 - A. Simpson) yesterday morning. Mr. Holm-: don (Hamerton','' : Andre\v'^''and' J Webb)"' sontcd;Mr. 'W.'Hanson,'a creditor.' No other creditors' were- present. ; "Mr.'Wedde appeared for this bankrupt/- 3 In a OTitten"i^ten^t;;banMpff!sMa' ! while at Rotorua serious illntess in his family 1 and'occasional- breaks 'in': employmenttogether with other causes, -rendered him iinablo. to pay his debts, and- ho had : found'it impossible to make any satisfactory'arrangement with his creditors, several of' whom pressed'for. payment." -Recently, one, of them obtained ■ an order against him on a judg- • ment summons : in- the Magistrate's, Court, and lie had. been compelled to file., :- • The' unsecured .liabilities totalled■ £83 ss. 5d.. There were no assets../.<.• V .r. '• In his-evidence, bankrupt stated that'while'.working iii Rotorua he was "getting-£2 10s. per wec-k, but he had , not been in-constant employment. ,-,' i ' ■. The Assignee" remarked,that no statement : of expenditure had/been' produced,-and tliis must bo supplied. Continuing his evidence,' bankrupt said that for a whilo he 'was working at a-bicycle shop, and ho received fl'per,week* --He'could not say cxactly for what periods ho was employed. J ~~yi '".I- ---' The-Assignee;' said that lie could not - allow the Bankruptcy .Court to be made. a-, cbnveriieiico of in this way. . Bankrupt stated that he had been in Wellington for eighteen months, during, which time lie had been'earning £3-. at-firsth and £3 ss. later. Ho had a wifo. and five children,,- . tlio eldest,of.whom, aged 30s. weekly and paid 20s'., towards tho house-, hold, expenses. Another child,-.brought" in 7s.'' Gd. per., week. HeVpaid. 30s;; per; .week rent for an eight-rqonjed ho.use, in, i: GhuzDea Street. Bankrupt made over his furhjturo" to his .wifo about fifteen years agoj he was then clear of debt. '• i The Assignee-remarked that frombri's pro- . tection in tlieso matters was a curse. Men got into debt and made the property over to their wives. Regarding this case, •; ho. was surprised: that bankrupt could not ihanago the household on, £5-2s. 6d. per week. I. Tho bankrupt ivas ordered to send ili' : a statement of -receipts' and. expenditure -for tho past three years, within fourteen.days. . A BUILDKR'S CASE. ./- . ■ An investigation was- held yesterday ■ afternoon by .the'Assigrieo into the affairs; of. Owen Thomas Baigent, builder, of.,the^utti. : ftMr." Morison represented Baigent.-.; About: a dozen creditors were presept.v i, .' 1 ~ In his written,, statement, bankrupt. said-, that he commenced, business, in June last, 'aid - his- failure was caused , by., a.'loss, on a . building contract. . • L ! Tho financial was as follows:— Unsecured liabilities, £567. ils. lid.; secured,; £994 Is.- 4d.; .less estimated value of- securities, £1239,10 a." Ho valued tho surplus wi a ' contract' at £245, stock-in-trade, £93; book', debts, £90." Tho net deficiency was £81Bs. 7d. Mr. Morison said that-debtor had a claim for: extras on a building contract. 1 . It was .decided that debtor furnish tho . creditors with' a more complete ; statement'. with reference to his building contracts. It was agreed, that J. H: Millar'-s building contract, bo assigned to the' lien -'holders) .'on'.!' condition that' they carry out tlio work', and in the event : of !i deficiency that; they .do not! prove against tlio estate. Tho creditors' asked the Official' Assignee to make further inquiries in'connection with " tho estate. ' - > <'' : The meeting adjourned till Friday, Juno 5-;!.