IN BANKRUPTCY.

Marlborough Daily Times, Volume II, Issue 106, 26 March 1880, Page 3

IN BANKRUPTCY.

In re Benedict Gopperth,

A meeting of the creditors of the above debtor was held atthe Court-house yesterday. Mr Sinclair, who appeared for Mr Gopperth, said the object of the meeting was to ask the assent of the creditors to a deed, whereby the debtor agreed to assign to Mr T. O'Sullivan, as Trustee, all his estate for the benefit of his creditors.

Mr C. J. W. Griffiths was elected Chairman of the meeting. The liabilities were estimated at £972, and the assets £630, as follows : T. Thompson L2OO, F. Dawe L 73, W. B. Earll L7O, E. W, Mills L 55, Bank of New Zealand L 49, A Lummas L 44, Guthrie and Larnach L3l, T. O’Sullivan L 26, Robinson Brothers L4l 11s 7d, S. Clinch L 29, J. McCall 10, Edwai'ds & Co. L 7 16s, J. Vorbach L 4 6s 6d, Bragg Bros. L 6 17s, Fairweather and Jamieson L 3 16s, W. Nosvrorthy L2 15s, Fell Bros. LI 9s, Girling & Co. L 4 10s, J. Scott L 3 12s, D. Draper L2 7s. H. Jellyman LI 15s, M. Healey L 4, C. S. Ruff LS, Blenheim Building Society L 258. CashLl3o ; Book Debts LSO ; f acre of land with 5 roomed house and shop, situate in Seymour street Blenheim, (mortgaged for L 250 ;L8 interest due) L4GI; Builders tools and stock L3O; '•% acre of land at Southside agreed to be purchased from Mr Carvill for LI 10 ; Deposit paid L2O. In reply to Mr Lawrence the Chairman said there was £139 cash. There was no other offer of cash down. The house, etc., valued at £4OO, was mortgaged to the Build ing Society for £250. The equity of redemption could, of course, be sold. Mr Gopperth said the property cost £305. Mr Lawrence said he did not think the property would fetch more than the amount which the Building Socioty had advanced upon it. Mr Robinson said this was paying a bad compliment to the Society, who would certainly leave a margin. He thought the property was worth £4OO. Mr Lawrence moved that the deed be not assented to, Mr Fildes, of the Bank of New Zealand, seconded. The Chairman said the effect of this would be that the debtor must go through the Bankruptcy Court. Mr Sinclair said he would like the gentle men to say in what way the creditors would be benefitted- by the adoption of this course, by which the assets would be diminished. The estat; would pay 10s in the £, but if they w ;nt to law it would not realm:; as much.

Mr Earll said he would like some explanation as to how Mr Gopperth had got into these difficulties.

Mr Gopperth said he lost by contracts ; he lost over £IOO by the school, and he had bills to meet, which he was unable to do. Mr Robinson said he thought the best plan would be to accept the deotor’s offer. Mr Sinclair moved that the deed be accepted. Mr Earll seconded pro form z. The Chairman this could be moved as an amendment.

The question that the deed be not accepted was put and carried, Mr Sinclair, Mr O'Sullivan, and Mr Robinson, voting against it. Mr Lawrence moved that Mr Gopperth be requested to file his declaration forthwith.

Mr Stenhouse seconded the motion, which was carried. This terminated the meeting.