A WILD-CAT SCHEME
LONDON, February 22. Li the London Hankruptcv Court yestroilay. Ito fore Mr Registrar Mollor. tlie mihlic examination was bold of Man lice Allan Robinson, of Victormslreet. ’Westminster. S.W., wbo was in, forested in a scheme for organising a world tour in the motor-yaclit Westward. which was to have sailed last autumn. The liabilities were retained at CIO 1.140 and the assets €6 18s 7d. To enable him to carry out the scheme Robinson borrowed £15,000 on an agreement to repay £18,750, and from time to time he borrowed further sumsl'rom friends and money-lenders, and also raised £37,000 on the mortgage of the vessel. Three days before her advertised time of departure the mortgagee demanded repayment of the loan, and, on default, seized the vessel. Passage moneys amounting to about Clo,ooo were received from 22 persons, all of whom were returned as creditors. The Official Receiver suggested that the Westward was a. “ wild-cat scheme from, beginning to end. The examination was concluded.
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Hokitika Guardian, 21 April 1926, Page 1
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164A WILD-CAT SCHEME Hokitika Guardian, 21 April 1926, Page 1
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