HEAVY LIABILITIES

Wairarapa Times-Age, 16 August 1938, Page 7

HEAVY LIABILITIES

MARTON LAND AGENT’S BANKRUPTCY CREDITORS ASK FOR PUBLIC EXAMINATION (By Telegraph—Press Association.) MARTON, August 15. A meeting of creditors today carried resolutions seeking a magisterial inquiry into the affairs of Robert Wakefield Harris, land agent, Marton, who was adjudged bankrupt on August 3. The excess of liabilities over assets, was £7152, debts to unsecured creditors amounting to £8245. The following resolutions were carried: “That bankrupt and his wife or any other persons as under the Bankruptcy Act, 1908, be summoned by the assignee to be examined before a magistrate pursuant to the provisions of sub-section 92.” ‘ “That this meeting of creditors considers it advisable that bankrupt, should submit to a public examination.” “That this meeting of creditors authorises the deputy-official asignee to dispose of any or all properties belonging to bankrupt by private contract.” In the course of a long statement bankrupt said he had no intention wilfully to defraud anyone and attri-buted-his failure to the effect of the depression on farming properties in which he invested money and to the decline in the estate business. “At present my wife holds a land agent’s licence and I am working for her. I regret I can make no offer to creditors,” he said.