MISSING BANKRUPT.

Dominion, Volume 7, Issue 1882, 16 October 1913, Page 8

MISSING BANKRUPT.

HERMAN LEWIS'S ESTATE.

CREDITORS DISCUSS POSITION.

A' notice posted somo time ago iiu tho office of tho Official Assignoo stated that the first meeting of creditors in the estate of Herrman Lowis would bo held at the Assignee's, offico at 11 a.m. yesterday. Shortly after the appointed time tho Official Assignee (Mr. A. Simpson) proceeded to the meeting room and took his seat at tho head of tho table. Several creditors (or representatives of creditors) entered the room, and tho press were present. The Assignee immediately announced that tho press would not bo admitted to tho room during the proceedings. He added that there was very little business to be done; "that fow creditors had forwarded 1 proof of debt, and that progress with tho affairs of tho estato had been retarded through the absenco of tho debtor (Lewis), who, moreover, had no attorney through whom business could be facilitated. Mr. Simpson added that ho felt sure that there would be nothing to report, but that tho pressmen could see him later, and that he would then communicate to them whatever it was considered should' be published.

A Dominion reporter saw the Official Assignee after the meeting, and was informed by him that the only thing to be reported was the fact that a resolution bad been passed by the gathering appointing Messrs. A. Dunn and C. W. Tringham supervisors to act with him. He said that only eight creditors had forwarded proof of debt, and that the full liabilities of the estato wero not known.

At another source the reporter was given tho following information: — The creditors present were: Mr. J. S. Swan, architect; Mr.' C. W. Tringham, for himself, and representing Messrs. Meston Bros., whoso claim against the estate is for £2300; Mr. Charles Pratt, the petitioning creditor (claiming £200), for whom Mr. A. Dunn appeared; and the secretary of a Wellington Loan Company.

Mr. Simpson addressed the meeting, making a few remarks upon the position of' the estate. He reported that he expected to got £1000 from tho ,salo of the stock 011 the debtor's Ngatapu run, a property on Taupo Eoad 35 miles from Napier. This stock, lie said, was subject, to two bills of silo in favour of Dalgety and Co., Ltd, and Mr. Friedlander, of. Ohristclmrch. Tho stock consisted of 5750 sheep and' 100 cattle, and the first mortgagees had disposed of the stock to Mr. Mason Chambers, of Hawko's Bay, for £3880. The Assignee estimated that there would be_a surplus of £1000. He said also that in his opinion this was the only immediately valuablo asset; all the other properties of the debtor were heavily encumbered, and all the creditors could do was let the mortgagees realise. Mr. Simpson said that lie had not done much in the matter of . investigation, as Lewis's transactions had been very complicated. Tho question of taking proceedings to bring the debtor back was discussed, but everyone of the representatives at tlio meeting was against any steps being taken to that end. Lewis, it was said, is believed to i>e in Australia. It appeared also that Lewis's furniture at Lower Hutt at tho time of his disappearance was subject to a bill of sale to a Loan Company to secure sums'aggregating about £1700. Tins security was given the company not by tho debtor, but in the name of a- womam who, it was alleged, was a nomineo for the debtor. The question was, therefore, as to whether the bill of salo was void under the Chattels Transfer Act as being giiven by someone not the true owner of the goods. The Assignee undertook to have the matter investigated and if there were reasonably grounds to take action to upset the bill of sale. Ono or two creditors commented on tho fact that there were so few present, and said that insufficient notice had been given of the meeting.'' The point. was raised as to whether the Assignee was right in excluding the press. Mr. Simpson replied that he had full power to exclude the press, and that he had acted on it on many occasions. Ho gave as one of his reasons for excluding the press tho explanation that creditors did notwant to appear in the public eye as in. .The meetmg then adjourned. Nothing definito was arranged about a further meeting. The understanding is that the Assignee and the supervisors are to make inquiries as to the position of the estate and that another meeting will be called later on.