MUSICIAN'S FAILURE
UN JU STIFIED EXTRAYAGANCE BLAMED . FOR POSITION COMPOSITION OF HALP EIABIEITIES. LONDONi July 14. Approvirig Sir Thomas Beecham's offer of- a ,eomposition of 10s in the £ to creditors,. to . whom he -typpg £172,607, the Registrar in Bankruptcy said .he. believed the .insolvency. had been due to unjustifiable extravagance and culpable neglect of business affairs. ■Sir Thomas Beecham denied extravagance> and attributed his position to .ar f ormer insolvency leaving contingent liabilities, lossfes on operas, and an income tax payment of £5-0,000, on which he had failed to claim a rebate after heavy losSes on a £500,000 deal for the promotion of a company to buy trust property left by his father. ... The composition will necessitate the trustees for settled estates raising £100,000.
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Rotorua Morning Post, Volume 2, Issue 290, 2 August 1932, Page 7
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124MUSICIAN'S FAILURE Rotorua Morning Post, Volume 2, Issue 290, 2 August 1932, Page 7
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