A BANKRUPT SOLICITOR.

Wairarapa Age, Volume XXV, Issue 10713, 30 April 1913, Page 5

A BANKRUPT SOLICITOR.

LARGE SUMS INVOLVED. (By Telegraph. — Press Association.) TIMARU, Last .Night. Detailg of a bankruptcy case which has created a sensation throughout the district, became public , to-day tlircragh the first meeting of creditors. The insolvent is Walter Shaw, solicitor, who has been indulging largely in land, speculations in his own behalf, and financing another' speculation with other people's money, and, according to statements made by solicitors and the Deputy Assignee, has muddled his business badly. The unsecured creditors are returned by bankrupt a s between fifty and 60 in number. The total unsecured debts are £30,603, and the assets are estimated at £24,041.. One large transaction in which the bankrupt was concerned was with one Treverza. There appears, to have been a sale of properties supposed to be worth £13,355, for £7500, but the purchasing company offer to cancel the bargain on- being repaid the deposit, and costs. About 100 creditors were present, and six solicitors; representing different partie s at to-day's proceedings practically all concerning this transaction. The meeting was adjourned for a fortnight. It wa s stated that there are other creditors and other assets. The claims include sums of £3OOO, £2BOO, £2300, £2OOO, £1960, and £I4OO, with nine others of over £SOO. The banknipt asserts that if the .assets are properly realised he will be able to pay 20s in the pound.