RESTAURANT KEEPER'S BANKRUPTCY.

Auckland Star, Volume XLIV, Issue 185, 5 August 1913, Page 5

RESTAURANT KEEPER'S BANKRUPTCY.

A statement of ibis affairs has been, submitted to the Official Assignee in Bankruptcy by David Samuel Thorburn, restaurant keeper at Te Puke. He sets down his total liabilities at £211 18/4, and assets £230, leading an apparent surplus of £18 1/8. The assets are made up as follow: Stock-in-trade, Te Puke, £120, including furniture, goodwill, £100; cash, £10. The debtor states that he started with a brother in 1911, a butchery business at Opotiki. Six. months later they took over the restaurant. They dissolved partnership in August, 1912, and debtor started as a restaurant proprietor at Te Puke. His brother remained at Opotiki, and continued the restaurant. Under the agreement of dissolution debtor's brother took over all j assets, and indemnified him against all claims for the joint partnership. He understood he was clear, and the business at Te Puke was successful. In February his brother's business premises were burned down, and debtor was compelled in May to pay, under distress warrant, £41 11/11 for debts not settled, which had been incurred under the partnership. Debtor's wife borrowed £100 to pay off the £41 11/11 and costs, also to put the business on a good footing. Since then judgment had been got against debtor for £57, under the old partnership. He was, therefore, compelled to file.