BANKRUPT ESTATE
DEFICIENCY OF £I3OO SHOWN. A PATENT ATTORNEY'S FAILURE VICTIM QF AN EMBEZZLEMENT. (Per Press Association.) DUNEDIN, This Day. A deficiency of over £I3OO was shown in the bankrupt estate of the late Robert "Wales, patent attorney, as to which, a meeting of creditors wa;s held yesterday. The Official Assognee stated that the number of creditors was very large, consisting mostly of persons who had entrusted deceased with the ; task of obtaining patents. The public was entitled to ask why the position was.not known earlier. The fact was that about £IOOO belonging to deceased's "Wellington office had been embezzled. Wales had not prosecuted the offender be* cause, on account of the nature of his business he had feared actions for damages. "This man embezzled money in a miserable way," said the Assignee, "and landed "Wales in this trouble. The whole thing was a tragedy as regards Wales."
The position in regard to patents was most unfortunate, not only for local creditors but for others distant. It was stated that the position seemed to be that patents in the hands of Wales had actually" lapsed. The estate was left in the hands of the Assignee.
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Bibliographic details
Ashburton Guardian, Volume 55, Issue 125, 8 March 1935, Page 6
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195BANKRUPT ESTATE Ashburton Guardian, Volume 55, Issue 125, 8 March 1935, Page 6
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