IN BANKRUPTCY.
A SHANNON FARM.
At the adjourned meeting held last week in bankruptcy of Robert Lloyd Martin, fanner, formerly of Shannon, now of Longburn, the creditors present passed a resolution recommending bankrupt's immediate discharge. To the motion tho only dissent came from Mr. J. Cameron, farmer, of Levin, the petitioning creditor. The D10.A., Mr.-C. E. Dempsy, presided, there being present, Mr. J. Cameron and his solicitor, Mr. C. Blenkhorn, Messrs W. 0. Caldwell, H. J. Anderson (Public Trust Office) and bankrupt, who was represented by Messrs J. A. Grant and L. A. Elliott.
At the first meeting of creditors, bankrupt's sworn statement showed that he was adjudicated bankrupt on Mr. Cameron’s petition on a judgment for money due in connection with a farm purchased from him. He had paid a deposit of £3OO on the place but had been compelled to walk off as ho could not make a do of it. An action taken against Cameron for misrepresentation had failed. The D.O.A. stated that since the last meeting the securities in the estate had been procured from the Public Trustee. They showed that bankrupt’s share of his father's estate had been allocated in various ways.
In reply to Mr. Blenkhorn, bankrupt stated that during the 12 months he was in occupation of the Shannon property, he took about £4OO off the farm. He could not say how the money was spent apart from living expenses and £SO he put into the place. Mr. Blenkhorn suggested that the living expenses were very high and that there was an undisclosed surplus. On being questioned by the D.O.A. Martin said he owed little money when lie went qn to tho place. All accounts had been paid by cheque. During the time he held the farm he paid into his bank the sum of £391. The only amounts not paid in were small sums received at odd times. All cheques received went through his account. To Mr. Blenkhorn: Payment made to Smith, Wylie, Ltd., were for two forestry bonds for his children. There was a liability in respect to these. His pass book was the only record of his affairs on the farm. He kept no books. To Mr. Grant bankrupt stated he went on to the place to make a home. He worked the whole time and put all his cash into it. Even after finding that the place was not as represented, he saw Mr. Cameron; who cut the interest in half. A man named Hill had the place before him. Hill was on tho place six months, and walked off after losing about £BOO. Bankrupt lost everything he had in the deal. Since leaving the place, he had been working for wages. He had nothing to offer his creditors, being cleaned up. Creditors having concluded thoir examination, Mr. Elliott asked permission to question Mr. Cameron. Mr. Dempsy, in granting it, said that the petitioner had no need to answer questions, as he was not on oath. Mr. Blenkhorn advised his client not to be drawn. Mr. Elliott was then allowed' to make a statement on bankrupt’s behalf, the tenor of which was that Martin had lost his deposit, because after an earnest effort, he found that the place was not a payable proposition. The two previous purchasers had walked off tho place, leaving deposits of £IOOO and £750 in it. • "
Mr. Elliott, as a creditor in the estate, then moved -the motion recommending bankrupt’s discharge. This was carried. The meeting then adjourned sine die. Mr. Blenkhorn remarked that his client would oppose the discharge being granted. _____
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Shannon News, 1 February 1929, Page 3
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597IN BANKRUPTCY. Shannon News, 1 February 1929, Page 3
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