MEETING OF CREDITORS

Dominion, Volume 12, Issue 249, 15 July 1919, Page 3

MEETING OF CREDITORS

$ . BANKRUPT TO BE PUBLICLY ' EXAMINED. A meeting of creditors in the bankrupt estate of Ben Crook, baker, 113 Adelaide Road, Wellington, was held yesterday morning in the office 6f tho Official Assignee (Mr. S. Tansley). Tho statement showed liabilities', unsecured Rangiora: Archer, Son, and Fulton, ,£386. Wellington: Robert Hall nnd Co., ,£118; Fulton and Co.. ,£101; B. Smith, X9fi; Laery and Co.. Ltd., ,£l7; Bank of New Zealand, £i-2\ Pearce Taylor, £31; D. Davies, .£l2; G. H. Haines, .823; Wellington Gas Company, .£8; A. Kellaway, .£8; F. H. Jansra, ,£2; rates, ,£l. Assets, .£6B lGs. Deficiency, J2787 2s. lid.

The 'bankrupt attributed his position to the effects of the late epidemic, during which ho was compelled to close down. His partner ,(Mr. Hayman) died, and for some weeks no bread was baked on the premises.

In evidence the bankrupt stated that he had been in the business about three years. The* takings had beon ,0)0 or .£'7o a week up to about 18 months ago, when hi.q partner suffered serious injury. Most of his liabilities had been incurred before the epidemic. Ho had never looked into his books until January. 1918, whon ha was told by an accountant that something was radically wrong.. He had never had a balance-sheet prepared, and had never known his actual position. He sold the business on June 2 to J. Jenkinson, who did not take over the book debts. He (the bankrupt) had not collected any of the book debts.

The Official Assignee; I have had a man going round after these book debts and nearly everybody claims to have paid. The money must be paid here, and not to J.Onkinson. It appeai'9 that Mrs. Crook is collecting the book debts, but I don't know on what authority. Bankrupt that although he knew he was insolvent in 1918 he had since incurred a liability of =-(3100. About four months ago he paid to J[rs. Hayman ,£SO on a bill of sale over the business. A creditor You apparently bought a bankrupt business with tho creditors' money. ' After further discussion it was resolved to have the bankrupt publicly examined,