CREDITORS’ MEETING

Press, Volume CVI, Issue 31349, 20 April 1967, Page 5

CREDITORS’ MEETING

Deficiency Of £387 High wages paid for logging work done at Eyrewell State Forest, and loss of work through mechanical breakdowns and ill-health, were reasons given by a former logging contractor for his bankruptcy at a meeting of his creditors in the office of the official assignee (Mr T. A. F. Withers), yesterday. Giles Francis Hayes, a driver, of 293 Wainoni road, filed his petition in bankruptcy on April 6. In his statement he disclosed unsecured creditors of £1097 Os 3d, secured creditors of £B6O and assets of £609 9s 7d. His over-all deficiency was £387 10s Bd.

Hayes said he had begun work as a logging contractor at Eyrewell three years ago after the high winds had blown part of the forest over. There were 62 other contractors working in the forest. He was working tn partnership with his nephew, but the partnership ■ was later dissolved. He accepted all the debts incurred by the partnership because Ms nephew was still a minor.

He gave up the contract in December last year and began working as a bulldozer driver. Among debts be owed was £l3O on a section. Hayes said be paid a deposit on a section in Bassett’s road, Burwood, last year, and went back to the section five months later and found a partly-built house on the section.

The agent admitted that there had been a mistake made and offered Mm another section with a deposit of £l3O. Hayes said he lost the money he invested in the first section.

Creditors put no motions to the meeting, which was closed by the Official Assignee.

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