BANKRUPT FARMER
Surplus Of Assets Over
Liabilities
By Telegraph—Press Association.
CHRISTCHURCH, September 27.
“I had not the liquid assets available to meet the judgment and so I was unable to oppose; the summons for an order judging me bankrupt.” This explanation for filing was given by Leslie Robert Cathcart Macfarlane, bankrupt sheep farmer, of Culverden, at a meeting of creditors before the official assignee, Mr. G. W. Brown. Bankrupt stated that on July 14, 1939, judgment was obtained against him for £1232/14/8 by Ethel Best. At that time he considered that the balance of the value of his assets over liabilities was about £BOOO. The assets were mostly under security and were charged to various creditors.
A statement of accounts showed a surplus of assets over liabilities of £B4OO/4/10. Assets totalled £11,060 9/10 and total debts were £2660/5/-. of which £1343/17/8 were unsecured liabilities. Secured liabilities amounted to £19,766/10/2, and the estimated
value of the securities was £24,055. There was not a quorum of creditors and the meeting was adjourned sine die when statements had been read.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19390928.2.47
Bibliographic details
Dominion, Volume 33, Issue 3, 28 September 1939, Page 6
Word Count
177BANKRUPT FARMER Dominion, Volume 33, Issue 3, 28 September 1939, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in