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Limerick Resident Faces Bankruptcy Proceedings |

Limerick Resident Faces Bankruptcy Proceedings

In a courtroom drama that unfolded yesterday before Mr Justice Wylie at the Bankruptcy Court, a focus was squarely on Co. Limerick as the case of Annie Cahill, a resident, took centre stage. The proceedings, marked by the presence of legal representatives and intricate financial details, shed light on the challenges faced by the widow from Newcastle West, Co. Limerick.

Ms. Cahill, who had been operating a druggist business in the local community, found herself in the midst of bankruptcy proceedings. The courtroom witnessed an examination conducted by Mr Robert Ikiyte, K.C., representing the Assignees responsible for overseeing the sale of a life insurance policy owned by the bankrupt individual.

During the examination, Ms. Cahill revealed that she had been paying her daughter a salary for a year for her assistance in the druggist business. Additionally, she had extended financial support to her brother by lending him money. In a bid to alleviate her financial burden, Ms. Cahill decided to sell a policy of insurance on her life.

The policy in question, valued at £100, was held with the Sun Assurance Company, carrying an annual premium of £15 10s. Ms. Cahill, expressing concerns about her ability to sustain the policy, opted to sell it to her brother, William Cahill. In response to inquiries from Mr Doyle, William Cahill admitted owing his sister over £200 and disclosed that he had acquired the life policy for £100—a sum he considered fair and above what he would have offered to anyone else.

However, William Cahill clarified that he was not privy to the surrender value of the policy and remained uncertain if the transaction reflected its true market worth. Despite the financial transaction, he expressed a willingness to cooperate with the Assignees by handing over the policy, provided he received £105 15s., a figure inclusive of assignment costs and the outstanding premium.

The courtroom deliberations raised questions about the financial intricacies surrounding the sale of the life policy and its potential impact on Ms. Cahill’s overall financial standing. The matter was adjourned for further consideration, leaving the resolution hanging in the balance.

Notably, Mr Peter Seales, solicitor, represented the witnesses involved in the case, adding a layer of legal expertise to the proceedings. The intricate details of the bankruptcy proceedings underscored the challenges faced by individuals in Co. Limerick, shedding light on the complex intersection of personal finances and legal obligations. As the case unfolds, the local community remains attentive, aware of the potential ramifications for one of its own.

Dublin Daily Express – Saturday 02 March 1912

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