CREDITORS' MEETINGS

Dominion, Volume 8, Issue 2532, 5 August 1915, Page 9

CREDITORS' MEETINGS

UNSATISFACTORY MILK BUSINESS. A meeting or creditors in the estate of Donald Gilbert Cook, dairyman, was held at the office of the Official Assignee yesterday morning.: Mr. S. Tansley (Acting-Official Assignee) presided. Mr. A/M. Salek appeared on_ behalf of the bankrupt, Mr/ M. Crombie for the Wellington Dairy Farmers' Co-operative Association, and Sir Kenneth Douglas for Mr. F. H. Walker, one of the creditors. In his:sworn statement bankrupt said he attributed his present position to the fact that he commenced business with borrowed capital, and also to the fact that the supply of milk failed him. He acquired the business at Kilbirnio on March 1 this year. The financial statement of bankrupt set down ; unsecured creditors at £331 18s. 5d., and secured oredifcors at £360 14s. Bd., the total debts being £542 13s. Id. The total assets were estimated at £115 17s. 4d. , The more important unsecured creditors were the Farmers' Co-operative Association, £60; P. E. Kynvett, £50.; and J. B. MacEwan and Co., £46 2s. 6d. The secured creditors were; F. H. Walker, £200, and 0. P. Ronberg, £150. Bankrupt! was examined in respect to his business transactions, the chairman remarking, at the conclusion that tho affairs of the debtor appeared to bo unsatisfactory; so muok so, that a public examination might be necessary. Mr. Salek replied that his client's trouble was his lack of business capacity. Eventually the meeting was adjourned sine die_, bankrupt's assets to be realised on in the meantime.

A NURSE'S AFFAIRS. Another meeting of creditors in Tespect to the estate of Eleanor Maude Pascoe, nurse, formerly of Rotorua, but now of Wellington, was called at the Official Assignee's office for the afternoon, but was adjourned sine dio as there were not a quorum present. Bankrupt's statement was to tho effect that she opened a private hospital and nursing home in Rotorua in 1911. At first it was successful, but in 1913 s'he lost a great deal of support. She then became involved in a law-suit which ran lf#r heavily into debt. Her hospital was finally close.d in June, 1914, and the furniture and equipment sold to pay off as many dobts as possible. Since then bankrupt liad been nursing pmately in Wellington, but owing to pressure from several Rotorua creditors she had been obliged to file a petition in bankruptcy. The unsecured creditors totalled £585 12s. 10d., while the assets wero nil.