MEETING OF R. COOPER’S CREDITORS.

Poverty Bay Standard, Volume XI, Issue 1371, 20 October 1883, Page 3

MEETING OF R. COOPER’S CREDITORS.

The second meeting of creditors in the estate of R. Cooper, was held yesterday afternoon at the Trus ee’s office. Mr Whitaker was elected to the chair, The Trustee stated that some new proof of debt forms had been put in, all of which he admitted. He had written to the debtor, asking for particulars and a detailed statement oi accounts to put before the creditors at this meeting, but had nut yet received any reply from him. The debtor replied that to make up a detailed statement he would require clerical assistance, which he had not got, and which would have to be obtained, if they wished for a st. tement. The Chairman said the Trustee would have to obtain the debtor’s books and go carefully through them, as under the Act the debtor would h-.ve to furniah the creditors with a statementMr Nolan wished to know what was to be done with the action oi the c.ebtor against Read’s Trustees, The Chairman said that the Trustee should ' be informed as to whether he should go on with i he action or not. The debtor said he had got the action adjourned till January next, and he would go on with it himself, whether the Irdsise elected to do so or not.

Ths Chairman said the question was, whether the action should or should not be proceeded with. He was able to show the creditors that there was nothing to go for. All the debtor could get in the act ion was the redemption of the propert y such as be sold to the defendants in the action. He strongly advised the creditors not to go on with the a tion, as he himself w uld guarantee to get the properties back wiihout much trouble, ||The debtor here jumped up and became ▼ery excited, saying the chairman whs ad’ vidng the creditors as a lawyer, and not as a Oredi or. He was not t’» be bounced in that way, and would not stay in the room any longer. He tiu n rushed uut of the room. Mr Boylan wanted to know in the matter of giving up the £5,000, »u the Chairman in a position to do so. Mr Adair thought it would be better to have some ami'-able arrangement. The Trustee said that if the creditors determined to go on with the K’tiun, he would require a substantial cheque pu ! down before he would make a move in the matter ; therefore the first thing they would have to do would be to *aise money. Mr Box lan mentioned that the debtor had stated that he had a person io carry on the action, and oould he not do so

The Chairman replied that the debtor had said nothing of the sort. Mr Boylau said he dia at the first meeting of creditors Mr Nolan would propose that the action be not carried on.

Mr Hees said that being a defendanti n the action of Cooper v. Read’s Trustees he was perfectly prepared to give up what the Action would bring him. The Cha-rinan said that whether the action stopped or not, the property in dispute, could bo got back. The Trustee would ask the creditors what they supposed they would get even if the debtor did get men tv advance him the money for the action, and if he won the case. He was of opinion they would not reap any advantage.

Mr Ward seconded Mr Nolan’s proposition, “that the action be not continued” Avhich was put an I carried. Mr Crrsswell askeH if the words “ that the debtor cou.d go on with the action himself if he chouse,” could be inserted in the pro position. This was not allowed. Mr Adair asked the Chairman if he was prepared to state to the meeting the offer he (Chairman) had previously spoken about to him. The Chairman said he was, and it was this, “ that he, as trustee to the estate was willing to hand over all right titles or interests in all shares and lands whatsoever, which the debtor ha i in his possession at the time of his bankruptcy for L 20.000. Mr Graham proposed that it be reduced to writing. Mr 'I ucker enquired if there were any liabilities for legal proceedings, and received an answer in the negative. in reply to Mr Rees, the Chairman said the Trustee had not received any further statement of liabilities, Mr Rees said the trustee should be authorised to make enquiries of c< rtain person-, wit i regard to unsettled accounts between them and the debtor, as in the instance of unsettled account* between the debtor and Air A. Graham, an I these persons to give

idence if required. Mr Tucke r inquired if the debtor had been allowed anything, jf not how was the poor man to live. How about the £lO per week ? t Wouldn’t they allow him something ?

The Chairman leplied that Mr Tucker’s foo.'ah remarks were unnecessary. This being all the business, the meetin n adjourned.