A BANKRUPT SOLICITOR.

Taranaki Daily News, Volume LV, Issue 290, 30 April 1913, Page 5

A BANKRUPT SOLICITOR.

RESULT OK LAND SPECULATION. , Per Press Association. j Timaru, Last Night. Details of the bankruptcy ease which < created a Sensation throughout the dis- i trict became public to-dav through the t first meeting of creditors.' The insolvent is Walter Shaw, a solicitor who has been ( indulging largely in land speculation, on r his own behalf, and financing another j speculation with other people's money, and according to the'statement made by r his solicitors and the Deputy Assignee, < he has muddled the business' badly. The t unsecured creditors are estimated by the i bankrupt as between 50 and 00 in num- \ ber, and the. total of unsecured debts at 1 £30,f>03. The assets are estimated at t f24,041. One large tra nsaetion in which ( the bankrupt was concerned with one 1 Trevur/.a appears to have been a sale < of properties, supposed to be worth £13,335, for £7500. but the purchasing com- 1 pany offers to cancel the bargain, on } being repaid the deposit, with interest and costs. ( About 100 creditors were present and t six solicitors, different j parties. To-day's proceedings were prac- j tically all concerning this transaction ] and the meeting adjourned a fortnight. c Tt was stated that there are other cred- ( itors and other assets. The, clams in- 1 elude sums of £3OOO, £2BOO, £2200, £2OOO, 1 £I9GO, £I4OO, and nine others over £SOO. ) The bankrupt asserts that if the assets , are properly realised, he will pay 20s f in the £. 1