UNFORTUNATE BUTCHER

Sun (Auckland), Volume III, Issue 715, 15 July 1929, Page 10

UNFORTUNATE BUTCHER

COMPELLED TO FILE IN BANKRUPTCY NO DISCHARGE YET Considered by his creditors to have been unlucky in his business, but also'stated by several not to have been as frank as he should have been, Francis John Fisk, bankrupt butcher, of Karangahape Road, did not have a resolution passed concerning his conduct this morning. Mr. V. R. Crowhurst, the acting-official assignee, said that Fisk was a young man, and it would perhaps b<i a lesson if discharge were withheld for a time. For Fisk, counsel stated that the bankruptcy had been brought iibout through the exercising of right under a bill of sale and the competition in the trade. Bankrupt’s total debts, which were not secured, were £857 2s Gd and his assets £l9B 3s 4Q, leaving a deficiency Of £658 19s 2d. Mr. Crowhurst mentioned that bankrupt’s grandmother had reduced by £l5O her claim for £350, and the estate would probably yield 4s in the pound. Under examination, Fisk said that he had paid most of the purchase price of the business in cash, but the remainder had been under a bill of sale. Competition had become so acute, especially when a shop had opened trade near him, that his partner had left the business in October, 1928, after just over a year’s business. The enforcing of a bill of sale compelled him to file in bankruptcy.