FRANK BANKRUPT

Sun (Auckland), Volume II, Issue 590, 16 February 1929, Page 13

FRANK BANKRUPT

part of the news on this page appeared in the Late Edition of THE SUN yesterday.

deliberately spent MONEY

HONE, for his creditors Unusual frankness was shown by nhristian Henry Dubi, bankrupt farmer, of Te Hana, when he met his creditors yesterday in Auckland, Dubi made the easy admis«lon to the official assignee that he had spent a sum of his money so that the creditors would not have it. \nother aspect of Dubi’s case was re ference he made in his statement t ,, the conduct of an Auckland legal jirm with which he had had transactions. •’They are libellous, some of these Statements of yours,” the assignee, Mr. J. Morris, informed Dubi. “If you cannot prove Jiem they will have to be withdrawn.” \ member of the firm concerned was the meeting, and, after questioning t ii e bankrupt, said that his statements ve re “brazen impudence.” Within the last two or three months £ voo has gone,” Mr. Morris pointed out to Dubi. “Can you tell mo where it feaa gone?” Bankrupt: I’m sorry- I cannot. •What you made up your mind to Ho,” said Mr. Morris, “was to spend ihe money so that there would be none Je!t" Bankrupt: That’s right. It was spent *,) that there would bo nothing left for pie creditors. Mr. Morris: Well, 1 must say, you are frank. For bankrupt, it was stated that he had bad luck in his farming. He md not owe money to unsecured creditors, but £4,800 was due to secured creditors. The securities were £2,400, t,nd the deficiency, £2,480. Bankrupt had a wife and five young children. Dubi said that he had stated in a letter to a legal firm in 1923 that the value of the farm was £ 9,000, but it was now £2.400. Mr. Morris considered that Dubi’s inability to account for £2OO in the recent months and £ 600 since last September was the most serious aspect o £ Dubi’s affairs. The meeting was adjourned and Dubi was instructed to produce a statement as to where the money had gone.