Shopkeeper’s Bankruptcy
A deficiency of $1798.91 was shown by Mrs Faith Violet Toombs, a shopkeeper, of 377 Selwyn Street, in a statement read to a meeting of her creditors before the Official Assignee (Mr J. B. K. Curran) yesterday. Mrs Toombs said that she had nine unsecured creditors to whom she owed $1166.91 and secured creditors to whom $632 was owed. She had no assets.
Mrs Toombs was adjudged bankrupt on December 13. She said that no audits had been taken and no books kept in the business. It appeared that large losses had been incurred over a considerable period. Mrs Toombs said that she had been working as a cook since November and would be able to pay $2O a week off her debts. She wanted to pay her creditors in full.
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Bibliographic details
Press, Volume CVIII, Issue 31586, 25 January 1968, Page 12
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133Shopkeeper’s Bankruptcy Press, Volume CVIII, Issue 31586, 25 January 1968, Page 12
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