IN BANKRUPTCY

Gisborne Times, Volume VII, Issue 392, 17 April 1902, Page 1

IN BANKRUPTCY

B. DENNEHY’S ESTATE.

The meeting of creditors called for yesterday was attended by the debtor,, Bartholomew Dcnnehy, and his solicitor, Mr G. Lysnar. There are no creditors in this district.

The Deputy Assignee, Mr J. Cole-

man, conducted an examination of the debtor. The latter stated that the composition he had paid in Napier was, lie thought, 12s 8d in the 4:. The lease of the hotel being up he had to go out at valuation, and that was all the estate paid. There were no bankruptcy proceedings. Some old book debts amounting to about £2OOO were handed over by his creditors to his wife. These hooks were in the hands of Messrs Patterson, Mossman and Co. A collector sent round only succeeded in collecting £l, and of this. Its was deducted for commission. lie thought £IOOO of the debts were good at the time. Since making the composition .at Dannevirke, he was idle for a time. Subsequently he went into the Caledonian Hotel' The trade was not good, and consequently he did no-t get on well. When leaving this hotel he was in debt £B7 11s sd, being the amount now owing. He left the hotel 12 months’ ago last March. He had only about £5 in his pockets' when he arrived here directly after. He had been up the Ruakituri working all the winter as foreman of some Government road works. His wages were 9s a day, but it was an expensive place to live at. 'His family were in Napier at the time, paying rent. Since then he had been working in the bush for Mr Lysnar, and then went on with

the dairying business. He had earned 30s a week from December to the end of January last. His earnings at present were not more than that. He had been served with a judgment summons and arrested. He had no property of any kind. The debts shown were principally incurred through money lent, he having backed a bill for £2O, and then had to pay it himself.

In reply to Mr Lysnar, debtor said he had pa id £llOO goodwill when going into the hotel at Dannevirke. IT is wife had lent him money, and siie had put in a claim. The creditors evidently thought ii an equitable claim, and acknowledged it by presenting her with the £2OOO book debts. The debts were made up of drinks, cash, and board ; they were practically of no value now. After compounding, some of the creditors had offered him part of their money owing, but lie was unable to take it. He had paid a sum of £I3OO to go into the Caledonian Hotel, which included stocK, furniture, and goodwill for a two years’ lease. He had thought the trade was good enough to warrant it, hut found out that the trade of the hotel was not as good as he thought. After entering the hotel, trade generally in Napier .reclined. He spent a great deal of money in furnishing, hut "not in repairs. The guarantee to the bank by friends of £SoOO, mentioned on the statement, should be £BOO. He was still liable under that guarantee. He went out of the Caledonian afler the lease had expired, having lost £3OO on the valuation. The ' guarantors had no security. The £llOO which he had received on going out of the hotel had been seized by Mr Vigor Brown, who found the purchaser under his bill of sale of the furniture and stock