ANOTHER BANKRUPT
TRIAL AT SUPREME COURT,
fßy Telegraph—Per Press Association)
CHRISTCHURCH, October 30
At the Supreme Court, the trial is proceeding of Frederick Ashley Neale, a bankrupt, for alleged failure to keep proper books, and two charges of contracting a debt without expectation of ability to pay.
The Crown said the accused could be described as a dealer in land. It was obvious that the slump was the main cause of his failure. When he failed he listed his assets as £18,546 and his debts to unsecured creditors as £10,310. leaving a nominal surplus of £B,OOO. Actually there ;would ‘be a deficiency of £10,030 laJnd It he ictyvidend wouM tie from 2s to 4s in the £. Accused’s, assets were in the form of land, property and houses, the value of which had slumped enormously. It was pointed out that the money had not been frittered away. The .debts were to builders and timber merchants.
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Hokitika Guardian, 30 October 1931, Page 6
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154ANOTHER BANKRUPT Hokitika Guardian, 30 October 1931, Page 6
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