WOMAN’S BORROWINGS

Sun (Auckland), Volume IV, Issue 1007, 25 June 1930, Page 12

WOMAN’S BORROWINGS

HEATED DISCUSSION BY CREDITORS 1 LARGE LIABILITIES SHOWN Heated exchanges marked the adjourned meeting of the creditors of Winifred Baker, clerk, of Auckland, adjudicated bankrupt on May 30 by Mr. Justice Herdman. which was held before the official assignee. Mr. A. W. Watters. this morning. The assignee had admitted the claim of only one creditor. who was represented by Mr. W. J. Spring. j The- official assignee said that the only claim admitted was for £ 46. but j further claims had been made for £slS. i Some of these might later be adi mitted. sances. Air. V. X. Hubble. Crown solicitor, advised the assignee to investigate further all other claims submitted. The one admitted would form a quorum if necessary, and this creditor alone could question bankrupt. It would be much more effective to adjourn the meeting for a time until all claims had been investigated. Bankrupt’s only assets were an as- ' sured claim for £-00 and another possible one. Technical objections had i been advanced concerning the majority j of the claims by creditors and it was j possible that all would be rejected. | “Proceedings show a degree of ten - j derness and consideration unique in my experience of bankruptcies,” dej dared Air. W. H. Cocker, for an un- : approved creditor. He wished to pro- ; test against the manner in which in- | vestigations were being made. Baker j had been adjudicated bankrupt by a ! Judge of the Supreme Court and the ; assignee appeared to be attempting to |go behind this authority. who had stated at the time that if ever there ! was a case for investigation yiis was ! one. An examination had been con- | ducted in camera, and this only very I extraordinary circumstances, absent in i the case, could justify. He had al- : j ready sent in a formal protest and con- j j sidered the assignee unjustified in takj ing the attitude he did. j Creditors were concerning them- ■ selves unduly at the present stage, according to Afr. Hubble. It would be j time enough for a detailed examination when all claims had been examined. ! At this point. Air. J. F. W. Dickson for an unapproved creditor, took exception to a suggestion by Air. Hubble that he had made a “wilful misrepresentation” of certain statements. He said that Air. Hubble had himself been misinformed regarding what had passed at a previous meeting.

Legal advice had been taken and every effort made to finalise proceedings. but the time had proved insufficient, said the official assignee. At one time he had thought of neglecting all proofs of debt and of leaving it to creditors to prove their debts in court. This course might have yet to be taken. Mr. Cocker’s attitude was one of hampering rather than of assisting. “Creditors are having more difficult y in securing information here than at any other meeting I have ever attended,” declared Air. Cocker, in stating that he had no intention of blocking proceedings.

Yesterday the sole approved creditor had been approached and offered a sum of money in settlement of her claim, said Mr. Cocker. The only infierpre«tation he could put on this action was that it would preclude inquiry by preventing the meeting being held.

Remarking that he had a duty to the bankrupt as well as to creditors, the assignee admitted unapproved creditors pro forma, thus giving them a right to be present and to vote, although they could not question bankrupt.

Cross-examined by Air. Spring, Baker said she had been borrowing money since 1926. She had had transactions with one or two other than those present, but they were r.ot making claims. Her employer had been a registered money lender and she had borrowed sums from him, repaying nearly £2OO last Alarch.

“I Jiave not the faintest notion of the total amount I borrowed,” she said In reply to Air. Spring, she admitted it might involve thousands of pounds. She had borrowed from one to pay another. Bankrupt said she had never ler.t money at interest, but had given sums to certain men to let out on her account. To Air. Spring she said that the rates of interest had been fixed finally by those she borrowed from. They were always asking a little more. “Regular Oliver Twists,” commented Mr. Singer. At this point it was decided to supply all creditors with copies of evidence taken in camera this morning regarding bankrupt's dealings. “A wrong impression may have been given by our handling of this case, but I can always place the evidence in the hands of the Crown Solicitor if I think fit,” said the official assignee.