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Patea Mail, Volume VI, Issue 515, 4 May 1880, Page 3

HOW FAILURES ARE MANAGED. A strange meeting of creditors took place over the bankruptcy of Robert McAllister, of Wellington. Three creditpresent were not mentioned in the debtor’s list. With regard to two of those, the debtor said the, claims had been paid, and he added,smilingly, “ It doesn’t matter ; put ’em down. I don’t object.” One creditor remarked that this was a ‘•cool way of doing business,” while another broke out into abuse of tiie debtor, and said he had deliberately swindled them. Mr Win. Bowden was voted to the chair, and requested the meeting to appoint a trustee. Nobody, however, felt disposed to accept the position, the assets being set down aa “ nill,” and a deadlock ensued. One gentlemen didn’t think it worth his while to act if larger creditors thought the debtor too contemptible tr have any thing to do with. A second gentleman had to go out of town and could not act, and the chairman positively declined to do so, As a last resource a fourth creditor was sent for, but could not be found after half an hour’s search, during which time the debtor was treated to a few more uncomplimentary epithets, which he good-humoredly laughed at. The trustee difficulty was ultimately got out of by provisionally appointing Air C. A. Baker trustee. Tlie ; chairman then examined the debtor, who stated that ho had received £3O on a bill of sale for £4OO, and had given a clear receipt for the'.full amount. He had spent the money and did not know whether the B.S. had been cancelled. Mr Thomson (one of the creditors) said the debtor was a very nice decent sort of man to look at, but he would like to know hbw he (the debtor) came to swindle the creditors in the way he had done, The debtor’s counsel objected to such remarks being made. In reply to a further question, the debtor said ho did not think he had any interest in the hotel at the corner of Tara-naki-street. He declined to say whether he was a partner of Mr Little, It was understood that the debtor should be fully examined later, and the meeting dispersed