Bankruptcy Proceedings: In re. Thomas Eady, of the Falstaff Restaurant, licensed victualler: A meeting of creditors was held yesterday at the office of the Official Receiver, before Mr. Luke J. Sharp. Mr. Cochrane appeared for the debtor, Mr. Pinsent for the bank concerned in the case and Mr. Bullock for a firm of creditors. The liabilities were £6. 658 3s, and the assets were set down at £606 6s 10d. … (discussion) … The creditors ultimately passed a resolution leaving the negotiations in the hand of him (Mr. Pinsent) and Mr. Sharp. The terms they obtained were as follows: That Messrs. Bass should take over the lease in discharge of the claim in their mortgage, pay £600, the value of the effects as a going concern, and pay the rent up to Jun 24. He (Mr. Pinsent) thought that both for the bank and the bulk of the creditors the arrangement was a good one. They had stopped a leak and gained an asset. A number of creditors seemed anxious to put questions to the bankrupt, but Mr. Pinsent suggested that any cross-examination might advantageously be deferred until the public enquiry, when he would be on his oath. There was no question that there would be a great deal to investigate: A Creditor: Mr. Eady told me twelve months ago he had made £300 during the year – the creditors confirmed by resolution the action of Mr. Pinsent and the Official Receiver with regard to the disposal of the business … …
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