CASE OF T. J. C. GURR

Dominion, Volume 5, Issue 1381, 6 March 1912, Page 3

CASE OF T. J. C. GURR

BEFORE ASSIGNEE. ONE OR TWO PLEASANTRIES. Tlip Officinl Assignee (Mr. A. Simpson) presided yesterday over nn adjcmniod meeting ni' creditors in the bankrupt estate of T. J. G. Gurr, trading as J. A. Smyth and Co., Wellington. Mr. P. 11. Putnam represented the bankrupt. The following creditors wore present or wore represented :—C. Coulter, X. T. Gurr, K. Oldmnii, Union. Oil, Soap, and Candle Co., —• Zflcller, Walker and Nicholson, Thompson Bros., Bannatyiie. and Hunter, Fielder aiid Co., Laery and Co., I'riinlpy Co., 'Wellington Harbour Board, and W. and G. Turnbull. An accountancy report upon the books of the estate Wiis submitted by Messrs. Badham and Biss. The report, a lengthy document, gave n total deficiency, according to bankrupt's books, as Xlß3l Is. lOd. Tho report stated, inter alia, that the bonks had been properly kept from January, 1911. It was also stated that a partnership between Gurr and , Smyth was dissolved in 1910. ' ■ • After a protracted discussion concerning details of procedure, it was resolved that tho bankrupt should be allowed fio retain his furniture, valued by himself at .£155, and by the Assignee's bailiff at .£55. Mr. Putnam stated that the bankrupt had assisted Badham and Biss in every possible way to make their examination, and had iii this way lost., opportunities of getting both money and work outside Wellington. ''.. When the accountant's report had been read, the Assignee invited the creditors to discuss it fully. It showed, he said, that a man had gone into business without any capital at all. As a matter of fact, he was in dobt when he started. If this sort of thing were allowed to go on, there' would be no security in business at all. A creditor remarked that there had not been time to digest the contents of the report, and suggested an adjournment. Mr. A. W. Blair, who was present on behalf of the Frimley Co., remarked at this Hint ho>had received bis client 3 account, although it had not yet been proved, and it amounted to ,£B9O. Another creditor said that one distinctly interesting matter, from the creditors point of view, concerned the liability of Sir. Smyth. ■ The Assignee stated that he had not yet obtained a legal 'opinion on this point because he hnd hesitated to epend the money of the creditors without nuthonty. He suggested-an-adjournment. If Mr. Smyth, meantime, could be. got into tho partnership, so much the better. A creditor: It would probably mean that creditors would be paid in full. Mr., Putnam said that .lie understood that a dissolution.of partnership had been gazetted. Mr. Blair:/Ho has to satisfy the Court that ho is not liable.to nay the creditors. Ho added that the people whom he represented had made bank ihquirics beforo going into this business at all. At that time they had never heard of Mr. GIIIT. It was not a question of whether Mr. Smyth had or had not dissolved partnership, but as to whether he took special steps to' notify each individual creditor. ■ . - ' Mr. Putnam contended that the Gazette notice would relieve Mr. Smyth of liability. ' . Mr. Blair reiterated that, so far as the Frimley people- were concerned, they had ilet tho agency to Smyth. They looked upon him as.a very much more valuable asset than Mr. Giirr. Creditors would be very foolish if they did not adopt the same view. Another creditor stated that he had not known Mr. Gurr until after tho bankruptcy. The Assignee said that he thought that most of tho creditors were in the same position. Mr. Blair said that it would be much the better course to bring, in Mr. Smyth, rather than got a paltry dividend of a few pence in the £■ After some further discussion, it was agreed that the Official Assignee, should ba requested to make any necessary'inquiries in regard to Mr. Smyth's liability, r.nd to lay the facts before his solicitor, with a view to obtaining an opinion thereon.' Tho Assignee (to Mr. Blair): It will bs very proper, on your part, to consult with my solicitor. Mr. Blair concurred, and adtel that he was making inquiries independently. It was. resolved that Messrs. Badham and Biss should be paid the sum of 15s. for their repoit. Mr. Putnam now asked permission to examine Mr. Oldman in regard to a report which he had furnished. The Assignee: I don't think you can speak about that now, Mr. Putnam: Oh, yes, I can, sir. Tho Assignee: I have such severe reports about Mr.'Gurr- — Mr. Putnam: If you have such reports, you should put them'before the creditors. The Assignee: I don't intend to put them before this meeting. Mr. Putnam: Then I suggest that you should' not refer to them'. The Assignee: I don't take any notice of your suggestions, Mr. Putnam! Mr. Oldman was now examined by Mr. Putnam upon oath, and in private. When the meeting resumed in open, tho Assignee formally adjourned it, stating that he would again call the creditors together as soon as he had further details to lay before them.