FREEZING WORKER A BANKRUPT

Press, Volume LXXXV, Issue 25766, 30 March 1949, Page 6

FREEZING WORKER A BANKRUPT

DEBTS TOTALLING £2570 ADMITTED From Our Own Reporter TIMARU, March 29. After hearing the evidence this afternoon of Thomas John Downes, a freezing worker, of Gleniti, who had been adjudged a bankrupt, a meeting of his creditors decided that a public accountant should investigate his books, and a- solicitor (Mr M. C. GrCsson) should investigate the legal aspects of the case. According to Downes, he owed more than 40 unsecured creditors a total amount of £2570 6s 2d. The biggest creditor was John Edmond, Ltd., which was owed £634 6s 6d. At the hearing Downes admitted further debts totalling £l3B 16s 2d. which he had omitted from the list. After meeting one secured creditor, he had assets of £123 10s, leaving a total deficiency of £2446 16s 2d, on which he could offer nothing to creditors.

“It would be a good thing to go into his books, because of the extraordinary entwining of this man’s business and his wife’s.” said Mr Gresson, who appeared for John Edmond, Ltd. It seemed obvious that that nothing could be got from the bankrupt, said Mr M. A. Raymond He suggested that legal steps might be taken to see if action could be taken on his wife’s property. Pending investigations, the meeting was adjourned.