TITLE HANDICAP.

Auckland Star, Volume LV, Issue 283, 28 November 1924, Page 5

TITLE HANDICAP.

LORD LOUGHBOROUGH AND HIS BANKRUPTCY. LONDON, November 13. Characterising the case as one of gross extravagance, the Bankruptcy! j Registrar suspended for three years the discharge from bankruptcy of Lord Loughborough. j The receiver stated that Lord Lough- | borough had brought on his bankruptcy ,by unjustifiable extravagance. | Lord Loughborough said his title 'handicapped him in obtaining employ-' Iment, c J I A trustee was appointed last February !at a meeting of creditors of Lord Lough-1 I borough, whose wife was formerly Miss ; I Sheila Chisholm, of Sydney. The debtor I I stated that his father had twice paid his debts, amounting to £20,000. Other j liabilities were £2300, due to moneyj lenders and £2700 to tradesmen ! A representative of the debtor's I father said the money-lenders undertook ! .in 1916 not to lend Lord Loughborouo-h more, but in view of their departure! from that undertaking, the family could ! | not pay them again, but would pay the j tradesmen fully. The Official Receiver I said Lord Loughborough was receiving |fl a day. He never had any occupation beyond a commission in the j Armoured Car Corps, and that of captain in the King's Rifles. His wife paid the expenses of their home in Hyde Park Terrace. The insolvency was attributed to extravagance and gambling.