BANKRUPT FARMER
DISPOSED OF PROPERTY LEGALLY LIABLE FOR MORTGAGE At the office of the official assignee, Mr. G. N. Morris, this morning, Edward Meikle, a bankrupt farmer of Mount Albert, faced his creditors. It appears that Meikle mortgaged his property at YVaitakerei at the end of the war, and three years ago sold it along with the mortgage to a syndicate, but the purchasers have made default, and although he was no longer interested in it he was legally liable for the amount of the mortgage, but having disposed o£ the property Meikle believed himself clear of all liabilities. Bankrupt’s schedule showed total liabilities of £473, and his assets were nil. Examined by Mr. Morris, bankrupt said he was working as a quarryman and earned £5 a week for the support of his wife and five children. As he had barely enough to live on he had no possibility of paying off any of the principal or interest on his mortgage, and had no recourse but to go bankrupt. There being only two proved creditors present no resolution could be passed, but they raised no objection to bankriipt’s discharge.
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Bibliographic details
Sun (Auckland), Volume 1, Issue 67, 10 June 1927, Page 9
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189BANKRUPT FARMER Sun (Auckland), Volume 1, Issue 67, 10 June 1927, Page 9
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