A BANKRUPT ESTATE

New Zealand Times, Volume XLIV, Issue 10292, 29 May 1919, Page 6

A BANKRUPT ESTATE

CREDITORS DISSATISFIED An adjourned - meeting of creditors in the'Danki upt estate or Alfred Kean, pastry cook, of was lielu at tna OUicial Assignee's office yesterday morning; - . Air T. S Tansley (Official Assignee;, who presided, informed' the creditors taat'-tOe- position, since last, they hao met had not been altered. Kean had been given ten days in which to make gut a statement tor presentation to the meeting, and as far as he (Mr Tansley) could see, nothing had been done. Ho suggested that the bankrupt should -be publicly examined. From the documents in possession ol Kedn it would appear that during tbo past 14 month* hi* receipt* were £2OUO The sum paid out in wages was approximately £521, and £IOO went in rent, leaving £l3lO unaccounted ior. Under cross-examination by a creditor, the bankrupt said he had paid an assistant £4 6s per week instead of £4. The los a week' wages ‘he had sworn ho paid to a girl was made up of 6s per week 'in cash and 10* as an allowance of clothes, which his wife purchased for her. There were no assets in the business. The piano he had removed to his sister’s * house prior to assigning his estate was • his wife’s property. The instrument was purchased in his name, and his wife had provided half the purchase money. Bio had seven prize birds, but five of them had died, and he gave the other two away. He certainly had no recollection of saying to anyone that if bo went bankrupt he would take care to feather his nest first. The Official Assignee said that It appeared to him that the defendant was not likely to prepare a statement, and it was no use calling the creditors together every ten days for nothing. Kean had been written to and told to bring a statement and all papers in connection with his business, but had tot done so. It seemed that he had got through a considerable uum ot money, for which ho had not been able to account. It now remained for the creditors to say if they would give the bankrupt further time in which to furnish the required statement or have him publicly examined. I’here tfa* not sufficient money-in the estate to engage counsel. A creditor stated that ho did not tbink-that ■ the bankrupt realised the serious position in which he had placed himself, What the creditors required was a statement of his receipts and expenditure, in order that ho might clear himself. , Another creditor said he did not think Kean was capable of making out a statement, and nis actum led one to look upon it as an attempt to conceal something. The Official Assignee said that the lease that the bankrupt bad held was evidently of a complicated nature, and he would make inquiries concerning it, also as to the position of the plant and stock which had been taken over by a third party. It was more than probable that the piano mentioned really belonged to the creditors. After further discussion it wao decided to give the bankrupt till June sth. to prepare a statement, which ho promised faithfully to dot _V