SYDNEY BANKRUPT
(Press Assn.-
leaves no records of trust and other funds FAILS FOR FIFTY THOUSAND
— By Telegraph — .Copyright).
(Rec. 7.40 p.m.) Sydney, August 17. Mr. Claude Roach, Trustee in bankruptcy, in presenting his report to a meeting of creditors in the esr tate of the late Arthur Davies, solicitor, who committed suicide recently, disclosed that there was a deficiency of approximately .£50,000. The Trustee- stated that Davies, affairs were in a terrible state. No books had been kept, not even a trust cash book or ledger. The only records of the bankrupt's transactions were the butts in his cheque book. Mr. Roach described the bankruptcy as one of the worst of its kind and a perfoct exariiple of the condition of affairs which was possible in the present state of the New South Wales bankruptcy law: "It does not even require that a person handling trust funds should keep proper books," he stated.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19330818.2.34
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Rotorua Morning Post, Volume 3, Issue 613, 18 August 1933, Page 5
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154SYDNEY BANKRUPT Rotorua Morning Post, Volume 3, Issue 613, 18 August 1933, Page 5
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