BANKRUPT STOREKEEPER.

Auckland Star, Volume LIV, Issue 73, 26 March 1923, Page 5

BANKRUPT STOREKEEPER.

s ALLEGED DEBT CONTRACTING.

COMMITTED FOR TRIAL. Three charges of contracting debts without reasonable hope of paying the same were preferred against William I !«.,,.encc t'uiung 142), storekeeper, of Taneatua, in the Police Court this morning. Mr. Hubble appeared on behalf of the Crown solicitor, and accused was represented by Mr. Wallace. Evidence was given that accused was adjudged bankrupt on his own petition on May 20, 1922. His schedule showed liabilities amounting to £547 7/6, and assets £218 16/5. Debts proved again>t the estate totalled £669, and assets realised were £38 1/1, the dividend being about 3d in the £. A meeting of creditors decided to lay the case before the Crown solicitor, with a view to a prosecution. A certified accountant, who had investigated bankrupt's affairs, found that on September 30, 1921, there was a deficiency of £102 5/7, and unless undisclosed assets existed, accused must have known he was insolvent.

The charges were in respect of deMs totalling the sums of £48 8/5, £23 1.. 7 and £34 13/-, contracted during 1921, from June to December. The firms involved were Messrs. Cruicksliank, MilVr. Colonial Rubber Co., and Upton's, Lid! Recused pleaded not guilty, and iv a . I committed for sentence.