TWICE BANKRUPT IN FIVE YEARS

Press, Volume CII, Issue 30190, 23 July 1963, Page 21

TWICE BANKRUPT IN FIVE YEARS

Inability to handle money was the main reason given by Gordon Silas McAlister, a 38-year-old unemployed father of 13 children, including three sets of twins, for his second bankruptcy within five years.

McAlister, who was adjudged bankrupt on his own petition on July 8, showed a deficiency of £420 I2s, owed to 12 unsecured creditors, at a meeting of his Creditors before Mr D. Malcolm, the agent for the Official Assignee (Mr O. T. Grattan), yesterday. The estimated value of his securities was £2500. He owes £2408 of this to secured creditors. His total debts are £512 12s. In addition to these debts, McAlister said he was in arrears with the £3 a week maintenance payments for bis three children of a previous marriage. In his statement, McAlister said that sickness, resulting in several job changes, was a contributing factor to his present position. He had

capitalised the family benefit for three of the Children to buy a home. However, he had not had the money to pay for fencing and other bills.

To questions from Mr Malcolm, McAlister admitted he had not told any of his South Island creditors of his previous bankruptcy in Wellington in December, 1958, from which he was not discharged, nor had his declaration to the State Advances Corporation shown this. McAlister, who was employed as a barman before his latest illness, said his wages had been £l4 Ils a week. He had tried to make an honest effort to control his affairs but had never been able to manage money. His 10 children by his second wife were aged from three weeks to seven years. No resolution was moved by the creditors. It was only a waste of time going into his personal life. McAlister could pot live on the wages he was drawing as a barman, said Mr Malcolm. He adjourned the meeting sine die.