BANKRUPTCY.

Taranaki Daily News, Volume LVII, Issue 155, 26 November 1914, Page 4

BANKRUPTCY.

BERNARD BYRN. A meeting of creditors in the estate of Bernard Byrn, motor engineer, of New Plymouth, was held at the office of the D.0.A., Mr J. S. Medley, on Tuesday. Bankrupt's statement of his assets and liabilities disclosed the following, position:;— Secured creditors, A. Hatrick and Co., £325; unsecured creditors, £l3O (is (A. B. Waldie, Lcpperton, £IOB (is; Win. Sampson, Waitara, £22). There were no assets, so that the deficiency was £l3O (is. Mr A. iStandish represented Mr Waldie, Mr Sampson attended personally, and Mr F. E. Wilson appeared for bankrupt. Bankrupt, under examination by the D.0.A., stated that he started in business in New Plymouth three years ago with Mr Stephens and traded as Stevens and Byrn, motor engineers. They had about £3OO capital between them and bankrupt put in between £250 and £3OO about sir months afterwards. The partnership was dissolved fourteen months ago. He gave Stevens £2BO cash for bis share of the business. This left him without any capital, but he took over the book debts, which were considerable, and the plant. About March lie was pressed, and a little later borrowed £IOO from Mr Waldie which he paid away to creditors who were pushing him. He thought at the time his position was sound. He did not know why Waldie's debt was Hot included in the deed of assignment when he asigned his estate in July. Tha whole of his assets were handed over to tin! trustees. During the last three months he had been working with Hatrick and Co., on commission. It was at tile request oi creditors that lie assigned his estate. He could not make any oll'er. The meeting adjourned.