A FARMER'S BANKRUPTCY.

Auckland Star, Volume LVI, Issue 189, 12 August 1925, Page 12

A FARMER'S BANKRUPTCY.

FOLLOWS MOTOR TRUCK DEAL.

SYMPATHETIC CREDITORS,

(From Our Own Correspondent.) MQRRINSYILLE, Tuesday. The few creditors who attended the bankruptcy meeting of Henry Arthur Greentree, farmer, of Tauhei, held at the Morrinsville Courthouse yesterday, appeared to be sympathetic, and passed a motion asking' that bankrupt's discharge, should be facilitated. The Deputy Official Assignee, Mr. V. H. Sanson, presided. Bankrupt wae represented by Mr. G. H. McKay. In his statement, bankrupt eet out that his farm of 85 acres, which cost him £35 an acre, was only partially improved, and required a lot of "bringing in." He suffered a severe setback owing to the slump. However, he considered he would have been able to pay his way had it not been for a judgment of £143 passed against him in respect of a motor truck he had purchased. He had repudiated the purchase of the truck, as it had been unserviceable, and an acticn brought by the vendors for the purchase price (£140) had. been non-_ suited, but in March of this year he was held liable for subsequent repairs, judgment for £143 being passed accordingly. He called a meeting of his creditors, who had advised him to file. His total debts were set out as £stfs 1/8. and his assets £S3 5/. The Deputy Official Assignee remarked that it appeared as if bankrupt had got into a very bad deal, and had found it impossible to get out of it. He added that tliis misht be a case of a fraction of a penny dividend to the creditors.