A Local Bankruptcy.

Kaipara and Waitemata Echo, 5 November 1913, Page 2

A Local Bankruptcy.

A meeting of creditorsih the estate of Greorgina Cull en. boar_dinghouse-keep» er of Helensville. was held last week m the official assignee's office at Auckland Bankrupt's total liabilities to unsecured creditors amounted to £«4 18s Bd, and her assets to £'<49 10s. There were also some outstanding accounts amounting to about £30, which were owing by boarders who had left. The assignee (Mr. W. S. Fisher) thought he would have much difficulty in getting any of this money

The sum of £30 10s. it was stated, was secured by Messrs. Hands and Jowitt, of Helensville Ly a bill of sale on the furniture, which had been valued, at £qO. Mr. Hall Skelton, for the bankrupt, stated that the value of the security had been underestimated, and that the real value would be nearer £100, besides a goodwill on the business of £50.

In view of this, Mr. Fisher decided to have the furniture valued as soon as possible.

Bankiupt stated that she went to Helensville in October, 1910, and commenced keeping a boardinghouse. To start this business she had been given £200 by her husband, who was an invalid, and unable to work. In January of this year she had received a further sum of £112, but she had received so little from the boarders that she was at length forced to file her petition. The sums of money which she had received from her husband were pait of the amount realised on the sale of his farm al Maungaturoto. The creditois decided to leave the sale df the assets in the official assignee's hands, with power to accept any private offer. The meeting then adjourned. Mr. Jowitt, on behalf of Mr. T. Cotter, TC.C, appeared for the secured creditors.