GROCERY FAILURE.
MAN AND WIFE PARTNERSHIP.
ASSIGNEE WOULD OPPOSE DISCHARGE.
COMMENT BY CREDITORS
"Bankrupt has carried on business in such a. way that I shall feel it my duty to oppose any movement he may make for his discharge," said the Official Assignee, Mr. A. W. Wattere, concerning the affairs of R. H. Hicatt, who had been a partner with his wife in a grocery business carried on in the suburbs. Both met their creditors at an adjourned meeting this morning. "It is practically impossible to tell the position by the books," added Mr. Watters. Aβ shown in the statement, assets were £504 and liabilities £2174. These figures, eaid Mr.' Watters, were subject to amendment. A Creditor: We would be fortunate to get 1/ in the £. The Official Assignee: Yes. The Creditor: It seems that Mr. Hieatt has played fast and loose with his creditors.
Offiehxl Assignee: He hae certainly carried on business in an extraordinary way. Mr. Wattere explained in reply to a question that there were three estates, that of Mr. Hieatt, that of his wife and that of the partnership. Bankrupt said that ho had entered the partnership to *ave his wife and to shoulder the responsibility. "I have no intention of asking for my discharge," he added, "I will pay 20/ in the £." "It is not a matter of that," rejoined another creditor, "but the public should know about the_ position. There are too manv of this kind,"
It was bankrupt's unbounded optimism that had been at fault. It should have been curbed long ago, added another creditor.
There was eomc discussion as to whether the large account of one company should be brought into the partnership debts, or whether it should stand as a liability to Mrs. Hieatt alone. The opinion of the meeting was that it should be the concern of the partnership.
"As far ae my firm is concerned we should refer this case to the Crown Prosecutor, but I am not prepared to move a motion in that direction," added another person present.
No motion was passed.
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Bibliographic details
Auckland Star, Volume LXIII, Issue 138, 13 June 1932, Page 5
Word Count
345GROCERY FAILURE. Auckland Star, Volume LXIII, Issue 138, 13 June 1932, Page 5
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