Meeting of Creditors

Feilding Star, Volume XV, Issue 4, 5 July 1893, Page 2

Meeting of Creditors

A meeting of creditors in the estate of I Frank Groves, herbahat, Feilding, was held by Mr Scott. D.0.A., in the Court Houao, Feildmg, yesterday afternoon. There were ouly two creditors present. Tho bankrupt stated that his reasons for seeking the protection of the Court were as follows: — (1) Falling off in business. (2) Pressure by a creditor hence he filed to protect his other creditors. (3) Sickness in his family, He had little or no capital wbon he started in business in December 1891. Some stock was supplied him at that time by Mr Mai, Unsecured Creditors. — Wellington : R. Ayres £42 8s 6d, Kompthorne Prosser & Co. £ 43 16s 4d, W. Barraclough £8 Is, Book & Co. £1 11s ; Blenheim : Scott * Co., £8 5s lid; Marton Mercury £1 10s ; Feilding : It. Groves £14 7s 9d, R. Wood £20, Kirton & Curtis £2 10s.— Total £142 10s 3d. Secured Creditors.— H. L. Sherwill, L 8; valne of security, JLB. Assets— Stock in trade, L 75 17s ; book debts, valued at L 1 0; shop fittings, L 8 ; property, LB. — Total assets L 93 17s, leaving ft deficiency of LSB 18s Bd. In course of examination by Mr Scott the fact was elicited, that in March last the bankrupt sold ft horse und van to a Mr Parker for £41. This amount was paid in billa which had been handed over to the bankrupt's brother thus reducing the liability to his brother by that amount. Mr Scott pointed out that such payment made a preferential creditor of bankrupt's brother, and lie (Mr Scott) would have to mal<e a. demand in writing for the return , of tho ' sum which belonged to the general body of the creditors. The examination was then adjourned sitic die. '