“FOOLISH DEBTOR”

Sun (Auckland), Volume II, Issue 600, 28 February 1929, Page 1

“FOOLISH DEBTOR”

PARTNERSHIP DETAILS NOT GIVEN FAILED WITH PICTURE SHOW In the opinion of the official assignee, Mr. G. N. Morris, at a meeting this morning, Lawrence Maude Morrin, picture theatre manager, of Pukekolie, was foolish in not explaining his position to his creditors after the theatre at Pukekolie was destroyed by fire in May, 1928. Morrin said that his brother, his sister-in-law and his wife entered into the leas© when the theatre was rebuilt five months later, and the partnership, known as Morrin and Morrin, was formed by his wife and his sister-in-law. Mr. Morris found that Morrin had been careless in net explaining to liis creditors that he was a member or* the partnership. This oversight had been misleading. Although Morrin’s schedule revealed a deficiency of £237, the assignee expected it to be nearer £4OO. Motrin’s assets were £4B, his debts to unsecured creditors £285. to secured creditors £lO2, and the value of the securities was £l5O.

Bankrupt began in the picture business as far back as 1913, at Cambridge. He had had ill-health continually and there had been trouble over the tenancy of the Cambridge Town Hall. No resolution was passed at the meeting. ___________________