JOINT BANKRUPTCY.
MOTHER AND DAUGHTER. FALL IN LAND VALUES. The present financial situation was blamed by Mrs. Joanna Dickson and her daughter, Miss Kathleen Fairfield Wills Dickson, for their insolvency at a meeting of creditors held yesterday before the acting-official assignee, Mr. T. W. Brown. The joint statement showed that land had been purchased at the then market value, but by reason of the present financial crisis it had become unsaleable and unrealisable. All the creditors were secure, except one, in whose ease the amount owing, £3004, represented the difference the property was sold at by the mortgagee and its present market value. They had jointly spent £28,000 in conserving the property, in the hope that things would improve, approximately £7000, this being the There was a deficiency estimated at difference between the present value of the land and when purchased. Some of the creditors present expressed the opinion that the bankruptcy not a quorum no resolution cculd be was pure misfortune, but as there was passed.
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Auckland Star, Volume LXIV, Issue 117, 20 May 1933, Page 10
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167JOINT BANKRUPTCY. Auckland Star, Volume LXIV, Issue 117, 20 May 1933, Page 10
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