ADJOURNED MEETING OF MR. O'SHEA'S CREDITORS.

New Zealand Times, Volume XXXII, Issue 5160, 5 October 1877, Page 2

ADJOURNED MEETING OF MR. O'SHEA'S CREDITORS.

An adjourned meeting of creditors in the estate of Mr. James O'Shea was held at the Grand Jury Room of the Supreme Court yes. terday ; Mr. Bannatyne in the Chair. The Chairman read the resolution passed at the previous meeting, when it was resolved to adjourn until that day, in order to consider a proposal made by Mr. O'Shea for the benefit of the creditors. The resolutions to be submitted to this,'meetingwere—That the trustee be instructed to give a discharge of all claims of the trustee and creditors upou the property of Mrs. O'Shea, upon payment to the trustees of £1000; thatthebankruptbedeclaredentitledto hi 3 discharge ; and that the Chairman of the meeting should certify that the requirements of the Debtors and Creditors Act, 1876, had been complied with.

Mr. Barton said the necessary arrangements had been made to carry this out, and he had in his possession a marked cheque for £IOOO, which he was prepared to hand over. He strongly recommended the creditors to accept the offer. He spoke as the solicitor of Mrs. O'Shea. and should the offer not be taken, and the creditors be disposed to take proceedings, he was prepared to defend the action.

Mr. Quick said he had advised the trustee to agree to the proposal rather than take proceedings with a view to obtain possession of certain properties—Wellington, sections 6SO' and GS2—as the effect of going to law would be to hang up the estate, perhaps for a long time, and cause litigation and expense to the estate which might be avoided. So far as he was personally concerned, it would be better for him. if there was litigation over the matter; but he considered it only right to prevent this if possible, and therefore advised them to take the offer into favorable consideration. Mr. Barton intimated that- in the event of legal proceedings being taken he should, in theinterests of his client, recommend that the trial should take place in some place where the jury were strangers to the case, which had been much discussed here, and, as he considered, unfairly commented on in the Press. After consulting with some of the creditors the Chairman said it was the wish of the meeting that the legal gentlemen and the reporters should withdraw, and leave them to discuss privately the question of the acceptance of the offer.

The lawyers and the reporters then withdrew to the next room, and judging from the noise shortly afterwards made in the apartment they had just left, there must have been a most animated discussion, so much so indeed that his Honor Mr. Justice Richmond, whowas trying Daniel Haggerty's case in the Court below, sent up a message to say that the business o!: the Court was being seriously interrupted by the noise overhead, and requesting that it might be abated.

Shortly afterwards the lawyers and reporters were re-admitted, and informed that the offer made on behalf of the baukrupt had been accepted by a small majority, after a good deal of discussion. This terminated the proceedings.