A BANKRUPT
QUARTER OF MILLION DEBTS. By Telegraph--Per Press Association.’ .AUCKLAND, September 15. A meeting of the creditors of Thomas O’Brien, Picture Theatre Proprietor, was held to-day. Bankrupt’s schedule showed a total indebtedness of £240,257 with an actual deficiency of £57,982 The debtor attributed the advent of talkies as the principal cause of his failure. A committee of three were appointed to co-operate with the assignee in the realisation of bankrupt’s principal asset, his interest in Empire Theatre Dunedin. Assets were shown totalling £182,275, comprising interest in various theatres throughout New Zealand amounting to £152,175, but his interest in the Dunedin property was staked to he the only one likely to realise much for the unsecured creditors.
The total liability included a mortgage of £205,000 over the Civic Theatre, Auckland. The creditors unanimously resolved to facilitate the bankrupt’s discharge:
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Hokitika Guardian, 16 September 1930, Page 8
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139A BANKRUPT Hokitika Guardian, 16 September 1930, Page 8
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