A BANKRUPT'S STATEMENT

Dominion, Volume 9, Issue 2608, 2 November 1915, Page 3

A BANKRUPT'S STATEMENT

A TAXI DRIVER'S AFFAIRS.

A meeting of creditors in tho bankrupt estate of Lewis James Foster was called for 11 a.m. yesterday at the office of the Acting-Official Assignee (Mr. S. Tansley), but at tho appointed hour no one 6ave the bankrupt and his solicitor (Mr. O. C. Mazengarb) had arrived, and the meeting was declared to have lapsed. .... The bankrupt's liabilities were set down as £120 135., and his assets at £3. The petitioning creditor was Albert Dyer, who had obtained judgment in an action • brought against Foster in the Magistrate's Court. In a statement to the, Official Assignee, the bankrupt said:—"l am not a taxi-car proprietor, as stated in the petition.of bankruptcy. I am a taxi-car driver. I have never owned a car or any real property. In or about the month of November, 1913, I commenced driving a motor-car, the property of my father, payinghim £6 monthly for the hire and retaining all profits after paying running expenses. Tb.ero was no agreement between my father and myself, but we had a mutual understanding that the payments made to my father should be credited to me in the purchase of the car. A similar arrangement was made in regard to a second car- purchased by my. father and loaned to me about Christmas, 1913. Sometime in September, 1914, I employed a mail (Tom Jo.vnt) to drive the first car for me at a salary of £2 weekly and a bonus of 2s. in the pound on all cash takings for hire. At that time I was driving tho second car. Wliile Joynt was driving the first' car tliero was (I have been informed) a- collision between my father's car and a bicycle cwned by the petitioning creditor ; as the result of which the latter was injured. I took no advice as to my liability for tho damage left New Zeal*and- ; P allowed tfid- actionbrought against me by the petitioning creditor to : go by default. My father resumed possession of the first car soon after the accident, and. the second car lie took from mo' a : few days after the service of the bankruptcy 'notice upon me. >He also cancelled_ my .driver's license for that car on September 30 last."