1890 : George Pluckrose - Bankruptcy Proceedings

Source:  Timber and Wood Working Machinery, xii 215
Date:  1 November 1890
Place:  London

PLUCKROSE, GEORGE, AND OLDREY, HENRY, builders and contractors, Carlton Bridge, Westbourne Park; Crown Works, Bosworth Road, and Cowley Wharf, Kensal Road (trading as William Oldrey and Co.) These debtors filed their own petition last July when the usual receiving order was made against their estate. They had now furnished a statement of affairs to the London Bankruptcy Court, and Mr. E. Leadem Hough the official receiver in charge of the case has issued his summary and observations thereon. The gross liabilities are returned at £12,798 9s. 8d., of which £4,702 11s. 2d., are expected to rank against assets valued at £4,828 9s. 9d.; thus showing a surplus of £126 18s. 7d. According to the observations of the Official Receiver the debtors state that under the will of the late Wm. Oldrey, who died in September, 1886, they acquired and took over his business assets and liabilities, and have since traded in partnership. The assets so acquired by the debtors were estimatcd to be of the value of £4000, whilst the liabilities (which were not then, in consequence of heavy current contracts, definitely ascertainable) appear to have ultimately exceeded £1,600 in November, 1888, a building upon which the debtors were engaged collapsed, several workmen being killed and others injured. Actions for damages were instituted against the debtors; the result of one of such actions, which was treated as a test case, being adverse to the debtors. They attribute their failure to this fact, and estimate their contingent liabilities under this head at £4,600. Full and partly secured creditors are stated to hold charges on the debtor, Oldrey under his late father’s will, and on certain leasehold premises, the property of the partnership, also on monies. The public examination is set down for hearing on the 7th November. The separate estate accounts show that the debtor Pluckrose has further liabilities of £104 17s. 7d. and no assets, while Oldrey has no separate debts or available assets.

 

This is PL2445 of Twig15.

 

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