Creditors Probe Farmer’s Dealings

Sun (Auckland), Volume II, Issue 389, 25 June 1928, Page 1

Creditors Probe Farmer’s Dealings

£13,000 LOST “DEBTS ALL OVER AUCKLAND” A strongly-worded motion was tempered somewhat at a meeting to-day of the creditors of John Reginald Overton (Mr. A. A. Bodley)? presided over by Mr. G. N. Morris, official assignee. The motion, after amendment, read; “That this meeting of creditors is of opinion that bankrupt’s conduct has been far from satisfactory in dealing with his creditors, and that the official asignee be asked to oppose bankrupt’s discharge.” An addition asking that the facts be placed before the Crown Solicitor with view to prosecution was deleted. Secured creditors’ amounts totalled £3,089, there being a security of £3,290 17s sd. Unsecured creditors’ amounts were £3,783 17s sd, assets were £1,201. and the total deficiency reached £ 2,582 17s sd. Overton attributed his failure to the loss through the sale of an Okete farm, which was instrumental in his losing a bush property, failure of potato crops at Mangere, and to the general depression ruling recently. He had £11,790 assets in 1920. UNFORTUNATE DEAL Bankrupt agreed to sell his Okete farm to the Commissioner of Crown Lands for soldier settlement, but the resultant expenditure made him a heavy loser. He unsuccessfully petitioned Parliament to retrieve the lost amounts, making him out of pocket to an extent of about £3,000. “Did you tell any of your Auckland creditors that you were some thousands down when you obtained credit from them?” asked Mr. Morris. Bankrupt: No. I don’t think I did. Bankrupt was questioned at length by Mr. concerning dealings at Ngahinepouri. DIFFICULTIES IN HAMILTON “What is mainly concerning me is that since Overton’s difficulties in Hamilton, he has been incurring creditors all over Auckland,” summed up Mr. Morris. “It is obvious that he has been unsatisfactory to deal with. It is probable that a request will come for a meeting at Hamilton. If Overton had filed in October, 1926, he would have given his creditors there an opportunity to pass an opinion on him.” When the original motion was put to the meeting, a creditor pointed out on Overton’s behalf that he had embarked on potato-growing hoping to improve his position when the Okete petition was still in the balance. Mr. Morris: There is no excuse for the past few months. On the facts before me, however, I don’t think there is much chance of prosecution. The dme’rided motion was carried, but the position will be investigated further.. .. .