A Waitara Bankruptcy.

Taranaki Daily News, Volume XLVII, Issue 7799, 15 April 1905, Page 2

A Waitara Bankruptcy.

A meeting of creditors in the bankrupt estate of Robert Peter Hansen carpenter, of Waitara, was held at the office of the Deputy Official Assignee, New Plymouth, on Friday. There were present : Messrs .J s Medley, D.O.A. (in the chair), It' Wright, Snell, Lawrence, Joll, Buchanan, Pearco, and Broome. Mr Cray (Messrs Wilson and Gray) nnl>eared for the creditors.

Mr Fiuherbert, solicitor for the bankrupt, addressed the meeting, and explained that the bankruptcy was due to losses on contracts. The financial statement showed that the unsecured liabilities amounted to £9B 16s 7d. The estimated value of securities was £36 Is, of which £l4 ss, was due to secured creditors. Other assets were estimated at £3O, leaving a deficiency of £47 Os 7d:

The bankrupt was examined at length as to his affairs. He assigned an interest in leasehold property about six nionehs ago to Brown and Co., to whom he owed £97. He valued this interest at £l3O. Tho assignment was made to Mr Prosser, and he did not receive any cash. He had previously mortgaged the lease to Prosscr to Secure the amount of this debt. He entered into an agreement to pay £5 per quarter, which was to pay off the principal in live years. He had also to pay £5 15s per quarter in reduction of the £220 mortgage, but made dofault in both eases, Prosscr afterwards got witness' to transfer the property altogether. Witness did so on the conditiqn that it was sold for £350, and the balance over and above tho mortgage handed to him, but he had received nothing in respect of the property, whieh was purchased by Mr Ogle. As to the houso on block 112 he had received 'no share on his father's death, nor had he received any part of the sum of £260 received from the Ocean Accident Insurance Company on his father's decease in Juiiy, 1002. Witness estimated his furniture to be worth £25, and said that Kraser, a creditor, had taken surety over it for £6 lent and a previous debt of £B. The meeting was adjourned to enable Mr Grey to make inquiries and advise as to certain assets the bankrupt appeared to be entitled to, and which he had not received the benefit of. i