“A BAD CASE”

Sun (Auckland), Volume I, Issue 229, 16 December 1927, Page 14

“A BAD CASE”

HAMILTON BANKRUPTCY ASSIGNEE’S STRONG COMMENT (From Our Own Correspondent) HAMILTON, Thursday. What was termed by the official assignee as one of the worst cases which had come under his notice was heard by Mr. J. H. Robertson to-day, when a meeting of creditors was held in the bankrupt estate of Thomas Edward Waters, a married man with eight children. Bankrupt’s schedule showed debts amounting to £1,066, of which £438 was to tradesmen. There were no assets whatever. Bankrupt was a carpenter by trade and engaged in several property deals under his wife’s name. He admitted that he had been insolvent for years and was really bankrupt when he came to Hamilton from Wanganui n 1916. In 1922, when in a hopeless position, he embarked on a series of contracts, justifying his action by saying he had to do something. The bank account was in the wife’s name. After examining the bankrupt under oath, the assignee expressed the opinion that he was a liar, and the creditors agreed, considering Waters had made false statements on a number of occasions. A resolution was passed that the matter be placed in the hands of the Crown Solicitor.