BOX MAKER BANKRUPT.
"SHOULD HAVE FAILED EARLIER."
(By Telegraph.—Own Correspondent.)
HAMILTON, this day. Keen .competition in business, and lack of capita], were the causes to which • Cedric Corbett, box manufacturer, of Hamilton, attributed his insolvency when he met his creditors to-day. Bankrupt's schedule showed debts totalling £879, and assets £124. The debts, except for £10, are unsecured. Bankrupt said he started business two years ago, with £60 of capital, which he supplemented by £138 lent him by friends. He found competition too keen and manufacturing costs too high. Mr. V. R. Ciwhurst, the Official Assignee, expressed the opinion that bankriipt should have called his creditors together sooner, and filed earlier, as a single man should be able to make some offer to his creditors, and until he did so his discharge would not be recommended. It was decided to review bankrupt's position at the end of twelve months.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19291219.2.74
Bibliographic details
Auckland Star, Volume LX, Issue 300, 19 December 1929, Page 8
Word Count
148BOX MAKER BANKRUPT. Auckland Star, Volume LX, Issue 300, 19 December 1929, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.