MEETING OF BARNETT AND LEVY'S CREDITORS.

Waikato Times, Volume X, Issue 798, 28 July 1877, Page 1 (Supplement)

MEETING OF BARNETT AND LEVY'S CREDITORS.

A meeting of Barnett and Levy's creditors ■\\a« called by circular for! O n Friday at three o'clock. A statement was submitted, shewing the liabilities to be £20,811 ; assets, £23,583. ■• It was stated tiat the Theatre block was only entered as value, £12,500, while the actual cost liad. been £14,000. The Building Societyhold a first mortgage of £4,000,' and the lank of Australasia a second mortgage covering the value of the building. The lank ,also hold mortgages over other properties, the whole of the freeholds and- leaseholds included in the estate amounting to about £16",000. The total liability to the Bank is some £6,000. Twenty-seven creditors were present. r Mr Meyer appeared on behalf of Messrs Earnett and Levy, who were also present. On the motion of Mr J. Lamb, Mr B. lonks was voted to the chair.

After sowe discussion', the following motion was proposed, seconded, and agreed to : " That the estate be assigned to Messss Tonks, Brown, and Lamb."

Mr Lamb enquired if either Mr Barnetfc or Mr Levy had any private property. Mr Meyer stated that Mr Barnctt had frvo years' lease of the house now occupied bv him to run.

Mr Binney thought they should not touch Mr Barnett's- house "and furniture. He moved " That the house and furniture, be exempted from the trustees." This was seconded by Mi- Cruickshank, and agreed to, The meeting then dispersed.