CARRIER'S FAILURE.
HIRE-PURCHASE PAYMENTS.
COULD NOT KEEP THEM UP.
Inability to keep up hire-purchase payments on a motor truck was the cause to which John Gibb, carrier, of I'apatoetoe, attributed his failure. A meeting of Gibb's creditors was called for to-day, but only one attended, representing a claim for £1 12/4. The financial statement showed total debts amounted to £121 1J and assets £20 19/10, the deficiency being £94 7/2. Bankrupt said he purchased a motor truck on the hire-purchase system, agreeing to pay £20 12/2 a month. After paying off £224 he was unable to pay any more, and had to return the vehicle to the owners. When it was taken back he was four months in arrears. "There appears to be nothing to be said against this man," said the Official Assignee in closing 'the meeting. He explained to debtor that he must do his best to pay his creditors when lie obtained work.
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Auckland Star, Volume LX, Issue 83, 9 April 1929, Page 5
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156CARRIER'S FAILURE. Auckland Star, Volume LX, Issue 83, 9 April 1929, Page 5
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