SOLD UP BY FIANCE

Dominion, Volume 15, Issue 285, 28 August 1922, Page 7

SOLD UP BY FIANCE

YOUNG WOMAN BANKRUPT Assets wqre shown as nil and amounts owing to unsecured creditors at £349 Ils. in the schedule filed by Margaret Newman, in whose bankrupt estate a meeting of creditors was held at Auckland' on Thursday morning, before tho official assignee, Mr. W. 8. Fisher (states the “Herald”). In her sworn statement the bankrupt said she was 23 years of age, and had formerly been a machinist at Dunedin. She came from Hamilton to Auckland last year, when she had less than £lO. She bought a fruiterer and confectioner’s business in the Manukau Road, Parnell, for £4OO, £330 being for stock and £7O for goodwill. Her fiance; Arthur Herbert Eden, advanced £2OO of the purchase money, and she stated that when the insecurity of the shop lease was ascertained liability for the remaining £2OO was repudiated. Subsequently the vendor obtained judgment for this amount, and she was forced to file. Cross-examined by Mr. Singer for the vendor, bankrupt admitted that her stock was sold up under a bill cf sale, securing the £2OO advanced by her fiance, tho bill of sale being obtained after judgment had been given in favour of the vendor of the business. Within seven days of the judgment Eden took up business in Eden Terrace. He and his brother were now partners in the Manukau Road business. She was employed at the Eden Terrace shop for £1 a week, and her “keep.” The stock and fittings realised £lll at auction under the bill of sale. She was still engaged to Eden. Mr. Singer said he would ask that the bill of sale he unset and proceedings be taken to declare Arthur Herbert Eden tho partner of the bankrupt. Tlie' official assignee consented to give Mr. Singer any facilities required for the action contemplated.