DUAL BANKRUPTCY.

Auckland Star, Volume LX, Issue 243, 14 October 1929, Page 5

DUAL BANKRUPTCY.

HUSBAND AND WIFE FILE. DEAL IX MT. ALBERT PROPERTY. Tho affairs of Frederick and Roso Rostance, of 5, Harlston Road, Mount Albert, were investigated to-day before the Deputy-Official Assignee (Mr. V. R. Crowliurst). The wife's schedule showed claims of secured creditors amounting to £1350, and securities valued at £1250, there being a deficit of £ICO. This was the total of debt shown on the husband's statement. Mrs. Rostance said slie bought a house at 70, Allendale Road, Mount Albert, in 1023. The price was £1000 and £250 was paid as deposit, partly by herself and partly by her husband. The house was taken in her name, but her husband was required to guarantee the mortgage. There was a first mortgage of £850 on the property, and they took a second one of £500 with the'same mortgagee. Owing to her husband being out of employment she had not been able to keep up the payments. Frederick Roitance said proceedings had been taken by the mortgagee to make him bankrupt and he had filed his own petition. He had asked th,e mortgagee to take the place back and offered to "pay £50, but this was declined. Answering Mr. Terry (for the mortgagee) Frederick Rostance said he had been out of work for some time and had no assets. Bankrupt admitted that his daughter had a section at Titirangi, but said this was bought with her own money, which was given to her by her mint." When the daughter came out from the Old Country she brought some furniture with her. She also had a motor car, but this also was bought with her own money. Witness had not offered the car for sale. Replying to Mr. Xorthcroft, who appeared for bankrupts, Rostance said when he bought the property he paid £250 to .the "mortgagee. The position now was that the" mortgagee had the house back, plus the £250, in addition to improvements that had been made. A sawmill had been erected on the adjoining section and this had spoilt the selling value of the property. Mr. Xorthcroft said Rostance had a prospect of work at Wellington and he wanted the proceedings expedited. The meeting was adjourned, the assignee being empowered to subpoena the C daughter in the event of further investigation being desired.