ANOTHER HELENSVILLE BANKRUPTCY

Kaipara and Waitemata Echo, 22 July 1915, Page 2

ANOTHER HELENSVILLE BANKRUPTCY

A MEETING of creditors in the bankrupt estate of John McKenzie was held in the Court House, Helensville, on Tuesday last. Mr Fisher, the Official Asignee, presided, while the debtor was represented by Mr Hall Skelton. Mr E. T. Field represenfed several of the creditors, and Mr Endean represented Mr McCarthy. The debtor was examined at great length by the Official Assignee, and in his evidence stated that he had commenced business in Helensville about 15 months ago, with about £20 cash and debts amounting to about £75 due to creditors at Te Kuiti^, His first contract was one 'f«k building Mrs Osman's house for^/ £402. If things had turned out ' as they should, he would have made his position better by about £60, but various delays had occurred in connection with the job and legal expenses had been incurred, so that he actually lost money. While this first contract was proceeding he had taken on ; three smaller contracts for amounts of £100, £60, and £30 ' respectively. He had also taken a job to bnild a house for Mr McCarthy, for which he was to receive wages and 10% upon the total wages paid in return for his supervision. Two months prior to his bankruptcy he had gone into his financial position and found he was solvent. His position now showed his liabilities as £629 18s Id, and his assets as £514 lis, making a deficiency of £115 7s Id.

The debtor was then crossexamined by Mr McLeod, Mr Endean, Mr Field and Mr H. Graham, with regard to various matters connected with the bankruptcy.

The Official Assignee then addressed the meeting, expressing dissatifaction with bankrupt's action in starting business without capital, also with regard to a change of name which bankrupt admitted, and over his transactions with Mr McCarthy.

Mr Hall Skelton addressed the meeting on behalf of bankrupt. Mr Jas. Stewart proposed and Mr H. Graham seconded — That the matter of completing bankrupt's contracts be placed in the > hands of the Official Assignee ; and a further resolution — That the Official Assignee be asked to place the facts of the bankruptcy before the Crown Solicitor, with a view to further proceedings.