BANKRUPT RESTAURATEUR

Evening Post, Volume LXXVIII, Issue 130, 29 November 1909, Page 7

BANKRUPT RESTAURATEUR

THE CASE OF ALFRED LLOYD. A meeting of the creditors in the estate of Alfred Lloyd, restaurant-keep-er ; Manners-street, was called for this mornhig in the office of the Official Assignee. The bankrupt, in his statement, said he purchased a restaurant business in Manners-street, Wellington, in March, 1904, paying for goodwill and fittings, £150. The business provided only "'a bare living" for himself and his wife up to some eighteen months ago. Business fell away. He was unable to meet expenses. The insolvency was attributed to the general depression in business and slackness of trade during the past eighteen months. While he was under treatment for a bad log, his landlord had put in a distress warrant for rent, and in justice to his other creditors the , bankrupt had to seek the protection of ' the court. The statement of assets and liabilities showed an amount owing to unsecured creditors of £129 13s 3d. There were no securities. The only asset was the stock-in-trade, valued •at £53 ss. Book debts amounting to £6 15s were estimated to produce nil. The estimated deficiency was £76 8s 3d. The principal unsecured creditors in the estate were : — Martin Kennedy, £63 ; Urwin and Rondenque, £24 16s ; S. Philp, £9 19s; J. Milcsi, £8; J. A. Hill, £'6 10s. There was no quorum, and the Assignee adjourned the meeting sine die.