BANKRUPT STATIONER.
HOUSE AND FURNITURE BURNED. INSURANCE MONEY PAID TO WIFE. (By Telegraph—Own Correspondent.) HAMILTON, this day. No creditors attended a meeting called to-day by the Official Assignee in the estate of Herbert W. Smales, of Cambridge. Bankrupt, whose large house was burnt down, with its furnishings, in July last, has liabilities totalling £876, while his assets are valued at £575. Debts to unsecured creditors total £S3. He attributed his failure to losses incurred in the stationery business, and to the fire. After the fire, the insurance on the house, £1500, was paid to the first mortgagee, to whom there was also owing £210 and interest. There was £400 owing to the second mortgagee, and also a mortgage on another property. Bankrupt explained that the amount of £325, received as an insurance payment for the furniture, went to his wife, who owned the furniture. The assignee asked for a statement from the wife, and adjourned the inquiry.
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Auckland Star, Volume LIX, Issue 31, 7 February 1928, Page 5
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157BANKRUPT STATIONER. Auckland Star, Volume LIX, Issue 31, 7 February 1928, Page 5
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