BANKRUPT MOTOR DRIVER

Dominion, Volume 20, Issue 51, 24 November 1926, Page 6

BANKRUPT MOTOR DRIVER

MEETING OF CREDITORS

Dominion Special.

Palmerston North, November 23.

A meeting of creditors was held this afternoon concerning the bankruptcy of Richard John Seddon Culver, a motor driver, ol Wellington, proceedings in whose estate have been translered to Palmerston North. Under examination bankrupt stated that he sold his business in Cuba Street, Palmerston North, for £250, and paid to tl.c Repatriation Board £206 He had then gone to Wellington in search ot employment He had not tried to lodge his creditors. When he secured a position he filed in bankruptcy His betting transactions on racecourses had not exceeded £l, and he did not indulge in betting wnen tn possession of the shop. Bankrupt said he knew that lie was insolvent before he disposed of the business. He kept books, with which he arrived at a knowledge of his position, but he did not make up a monthly statement Stock amounted to £175, including fittings He had not been able to devote al Itbis time to the shop, as be had had to work outside, and his wife and farnilv had to tend it.

Bankrupt further stated he had decided to file when his Palmerston North creditors started pressing him He spent £36 in moving to Wellington. When he found himself in difficulties he saw his solicitors and placed his position before them, and arranged to make monthly payments towards liquidation of his debts Al) creditors, except two, were notified some mouths prior to bankrupt’s leaving Palmerston North. The meeting then adjourned.