AIRMAN’S CREDITORS
OFFER OF FIVE SHILLINGS IN POUND ACCEPTED Creditors of G. A. C. Cowper, formerly instructor to the Auckland Aero Club, and now a pilot in the employ of Hamilton Airways, Ltd., at a meeting before the official assignee, Mr. A. W. Watters, this morning, decided to accept an offer of 5s in the pound. Bankrupt’s schedule showed liabilities at £640 13s 7d and assets £SO. In his statement bankrupt said he came to New Zealand in 1925 and took up property at Manurewa, which he had been forced to relinquish. A creditor suggested that bankrupt accept judgment in favour of all creditors, to pay approximately £2 a week, the amount to be reduced if his earnings were reduced and to be increased if he earned more. The creditor suggested that bankrupt pay £ 500 in this way.
The official assignee opposed this suggestion, saying it would be a big handicap and would take a long time to pay. Jt would not be fair to bankrupt.
It was finally resolved to accept bankrupt’s offer.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300205.2.151
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Sun (Auckland), Volume III, Issue 889, 5 February 1930, Page 11
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174AIRMAN’S CREDITORS Sun (Auckland), Volume III, Issue 889, 5 February 1930, Page 11
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