A BANKRUPT BUHDEB

Evening Post, Volume CXVI, Issue 48, 25 August 1933, Page 9

A BANKRUPT BUHDEB

DISSATISFIED CREDITORS

A Wellington builder, George William Alexander .Phillips, attended a meeting of his creditors this morning at the office of the Official Assignee, Mr. S. Tanslcy. His debts were returned as amounting to just over £500. . In his statement the bankrupt said that he started as a builder in Wellington last December with a capital ot £25. He had been compelled to borrow in order to carry on, but had tendered too' low for a job and had found himself in difficulties. A sojourn in hospital had also caused him added expense. Several creditors closely questioned the bankrupt about various payments made to and by him in respect to the tender for £648 on which he lost approximately £500. Ho denied that he intentionally tendered too low and that, living on the job, he allowed his creditors, the sub-contractors, to "fall in.' He admitted that his wife had bought a car shortly after the contract was entered into, but denied that the; money had come from the job. He also denied that at any time he had said he- did not mind losing a hundred or two on the- job as he had several hundred pounds in the bank to pay everyone and wanted to get his name known as a builder. . Several creditors said that m thenopinion the bankrupt did not know the rudimentary principles of building, and alleged false pretences against the bankrupt. The meeting was filially adjourned for a fortnight pending the production by the bankrupt of a proper statement as to the disbursement of money received. '