Second Edition

Patea Mail, 28 November 1881, Page 3

Second Edition

applicatioiTfoe discharge. A final meeting of creditors in the estate of W. Williams, a bankrupt, was held this afternoon, at the Court House, Fourteen persons were present, and Mr Taplin was voted to the chair. A question of confirming minutes was raised by Mr North. They were amended slightly, on points mentioned by the Trustee and by Mr North, and were confirmed, Mr North objecting. Mr Williams having requested a meeting to be called to recommend his immediate discharge, the Trustee said he had called this meeting for that purpose. Mr J. Paterson had completed the purchase of the estate for £7OO within fourteen daj's after his offer. The money is lodged at the bank, and there is now a balance of £690 19s 6d to the trustee’s credit. The baukrupt has been receiving £3 a week as allowance. Mr J. Lett moved that the debtor’s application for immediate discharge be recommended. He said this was the ninth meeting, and there had been more persecution in this case than any he had known. The creditors might have received 10s in the pound by accepting the offer made, instead of receiving perhaps fifteenpence now. Mr Potto seconded.

Mr North proposed, as an amendment, that the debtor come up in three months’ time. He also seconded it on behalf of Dr. Keating, whose proxy he held. He altered it thus : “ That the debtor’s appli cation for his discharge be suspended for three months.”

Mr Sherwood pointed out that £3 a week for 13 weeks would have to be paid ; and the trustee would have to hold in hand other funds, in the event of the application being suspended for a further period. What reasons had Mr North for proposing this ? The Trustee made a statement disclaiming any part in arrangements which were rumored to have been cut and dried for the last meeting. The resolution was eventually earned by a narrow majority. The value at first was slightly in favor of the amendment, but several creditors entered the room during the division, and the values finally stood at £1,321 for the suspension and £1,328 for immediate discharge.