MEETING OF CREDITORS.

Poverty Bay Standard, Volume X, Issue 1119, 10 August 1882, Page 2

MEETING OF CREDITORS.

A meeting of creditors in the estate of Mr R. Cooper was heid this morning in the R.M. Court chambers, before Mr G, L. Greenwood, sitting as deputy for the Registrar in Bankruptcy. Messrs. A. Whitaker and E. ff. Ward, jun., appearing for Road’s Tmstues, and Mr W. Brassey for the defendant, to consider an application made by Mr Cooper to stay further proceedings pending the decision, by the Supreme Court, of an appeal against the judgment of Mr Hardcastle, which declared Mr Cooper insolvent. Mr Brassey said the necessary bonds had been entered into, and the grounds of aopeal duly set forth, in tho notice filed in the Conrt. There was no wish to use the appeal with a view to frivolous delay. The appeal would be in bonafides prosecuted. The application was a fair one, and should be granted. Mr Whitaker objected to the sth cause of appeal. Mr Brassey withdrew it, and Mr Whitaker proceeded, and referred to the case of Regina V. Henderson, before Justices i Johnston and Williams, regarding the power of the Judge of District Court to alter or vary the decision given hy a deputy, Again, had the appellant complied with all the necessary forms ? The appellant had treated his creditors with contempt, and had not attempted to moot them as in duty bound. Bule 13 clearly said that the debtor should deliver a notice within three days, this had not been done, and taking all the facts into consideration, he submitted that the appeal was too late, and the Court had no right to grant any stay of proceeding, such as the appellant now sought. Mr Brassey said tho Court should not take into eonsidoration the ehnnoos of appellants 1 sucuesa on tho grounds of appeal. They were ' buna Jidc, and entitled to consideration. The ; question of time for filing laid with the Court I

of Appeal. The rules cannot override the Act under which they are made. The Supreme Court had it in their power to extend the time even beyond the 21 days set forth by the Act, and considering the difficulties offered by the late absence of the Deputy Registrar, he thought these formalities were not essential to the case. The appeal should be allowed. Mr Greenwood said that it appeared 40 him doubtful whether any one would have had power to act in his absence. Rule 13 had evidently not been complied with, but he was uncertain whether it clashed with rule 17, or not. He had clearly no powei’ to say it wis too late to go on with the appeal. That was a question for the Supreme Court. He would rather the case had been placed before Judge Hardcastle himself. It placed him in an unpleasant position, his decision having been reversed by Judge Hardcastle. He thought an appeal would prove a valuable precedent. The only question he had to determine was the stay of bankruptcy proceedings, and he did not see his w’ay cleax* to grant the order for them, and he should decline to do so, and would order a meeting of creditors for

2 p.m. The adjourned (or so called) meeting of creditors in the estate of R. Cooper resumed theii’ session at 2 p.m. Read’s Trustees submitted a claim of £41,991 3s Bd, against which they hold securities £28,935 10s, leaving a credit balance of £13,055 13s Bd. Mr Whitaker raised a qnestion ns to whether Mr Cooper, as a debtor, conld appear by Counsel. It was ruled that he could for the purposes of this meeting. Mr Fraser took objection to compound interest as charged in Reads Trustee’s account. Mr Whitaker defended the charge on its merits. Mr Greenwood could not entertain the

objection. Mr Whitaker then requested that all persons who had not proved in the estate should j be caused to withdraw. Mr Greenwood said he would ask all per- ' sons, other than proved creditors, should I withdraw into the space allotted fox’ tho ; public. The names of Messrs Whitaker, M. H. Smith and Dav were proposed for the chair, Mr Maude observed that as Read's Trustees had such a big say in the matter, ho presumed it would bo useless any one else saying anything. Mr Whitaker replied that Mr Maude was quite right in his opinion. Mr Whitaker was then elected Chairman of the meeting. :Mr Carlaw Smith was elected Trustee at a remuneration to be fixed hereafter, the Act allowing him a claim of 5 per cent. Mr Carlaw Smith signified his acceptance of tho Trusteeship.