CLOSE EXAMINATION

Sun (Auckland), Volume III, Issue 794, 15 October 1929, Page 11

CLOSE EXAMINATION

MOTOR DEALER GOES BANKRUPT “BEAUTIFULLY EVASIVE” After being questioned for an hour this morning by two solicitors, a bankrupt motor dealer of Beach Road, A. Ernest Warde, had his affairs adjourned for further inquiry by the assignee, Mr. V. R. Crowhurst. “Beautifully evasive,” was the remark made by an examining solicitor, Mr. F. W. Schramm. Warde’s schedule showed £632 15s lid to be due to unsecured creditors. He had no assets. In his statement, the bankrupt said the amount of his liabilities was made up by three judgments obtained against him. He said one judgment, for an amount he had contended to be due against a company, A. Ernest Warde, Limited, had been given against him personally, and of a second judgment, he had no record of the transaction. Tho third jLidgment was a claim for rent of premises which had been left by a company. W3rde was examined on his position in a later company, A. Ernest Warde Motor Sales, Limited, by Mi*. R. A. Grant, representing the principal creditor. The bankrupt said he was the manager of the company. “I am merely a servant of the concern/' he stated. “My only interest in the company is that my job is there.” The bankrupt stated his willingness to meet the liabilities but said he was not in a position to make an offer at the moment. “The company bears my name and I think people confuse that,” said Warde when Mr. Schramm said a court judgment had held the bankrupt to be liable personally for an amount. The bankrupt, in reply to Mr. Grant, said his position had been bad at the time the A. Ernest Warde Motor Sales Company had been formed. When Mr. Grant said that searches in the companies office had not so far revealed a registration of the A. Ernest Wa.rdo Motor Sales Company, the bankrupt said he believed there had been registration. He said 199 shares were held by a woman and one share by the company’s secretary*. Mr. Crowhurst adjourned the meeting and said a further inquiry would be made.