Charles William Goodson _ Bankrupt but where?

[kiwicatz]

My gt grandfather went bankrupt in the UK before going to NZ in 1880. As far as I know he moved from Lincolnshire to Norfolk (Brandon) between 1865 and the 1871 when he is there, listed as a Corn Merchant, 'The census page for 1871, says "Brandon House on the border line between Norfolk and Suffolk!" Next to the entry for CW Goodson and Family - at this time he was a Corn Merchant' He may have been in Suffolk, his daughter Elizabeth was born in Weeting in 1864 plus another daughter, and his son Charles Edward was born in Thetford in 1867.

I have recently found a newspaper article where it states that he went to England in 1904 and paid his creditors back in full. I am trying to find details of the original bankruptcy.
Can sks help at all? They went to NZ in 1879.
Thank you
Regards
Jan

[avm228]

The article doesn't say that he went bankrupt in England.  It says that he got into debt in England but that he made a composition with his creditors (this would have been to avoid bankruptcy) having entered into a deed of assignment which would have put a trustee in place to realise his assets for the benefit of the creditors.  The creditors accepted his offer to be paid reduced amounts of 8s 5d for every £ they were owed.

The first reference to bankruptcy comes after his emigration to New Zealand, as I read it.

[kiwicatz]

Thanks for that. You are right that he went bankrupt in NZ. I don't understand about the composition. And would I be able to find anything about this agreement anywhere. I am interested to add anything about this to my family tree.
regards
Jan

[avm228]

Hello again Jan

There may be some references to him in the London Gazette

e.g.: www.thegazette.co.uk/London/issue/23839/page/1423

so perhaps it would be worth a search here: www.thegazette.co.uk.

However by entering into a composition (basically a deal/agreement) with his creditors he will have avoided the public disgrace of bankruptcy and also much of the formality that would have left a paper trail, I'm afraid. 

The modern equivalent process in English law would be an IVA (individual voluntary arrangement) which has to be registered and then is made public online, but it would have been a more private matter in those days, dealt with by the creditors attending a meeting and then voting by a show of hands on whether they were prepared to accept his commitment to pay them a proportion of what they were due, rather than risk receiving little or nothing if he were forced into bankruptcy.

[kiwicatz]

Thank you for your reply. You never stop learning with Family History.
Regards
Jan