BUILDER BANKRUPT

Evening Post, Volume CX, Issue 79, 30 September 1930, Page 11

BUILDER BANKRUPT

STIR AT AUCKLAND

A GOVERNMENT CONTKACT

(By Telcgraph.-PreK Association.)

AUCKLAKi)/'29tii September*. •■■ One of the largest gatherings . of creditors evor known in Auckland assembled at a meeting held in .tho-oftwe. of the Official Assignee to inquire into the affairs of John.Eobert Simpson, contractor, of';- Auckland,; -who the' building of the -Supreme Cow.t Building at Hanulton at a-puce, of £25,000. ■■• "•'•■ '■■ '"■ The debtor's financial schedule show> ed liabiities to the bank for overdraft totalling £9500. Assets amount to a grand total of £16,698 Bs' lOd, book debts being £6080, which were estimated io produce £0048. An; estimated surplus on property -was. returned;., at £8779 The claims of unsecured creditors totalled £8621 and:those of-secured creditors £16,321. ':. The. estimated value of securities was £20,100..-.. Liabilities other than those •. mentioned were £895, and the total debts were £9517 7s 10d. ■-; '■-: ~ .-„ Among the assets was an item...oi. "live stock." Replying.to:,the Assignee the bankrupt said that this represented a'mare and two foals at a racing stable. A debt of £150, was owing.by the owner of the stable for- building work. A balance of £3800 was due for' the completion of the Hamilton contract, and £1000 for. a hospital contract. Deposits of £315 and £350. respectively were paid by, the- Public Works Department on the acceptance of the contracts. During the meeting a-.-telegram was received from the Public Works/Department suggesting that it _sn° ul" complete tho contract at an estimated price of £120,0. - This was agreed to, and a committee was appointed to act with the Official Assignee in winding, up the- estate. . ... ;' . . .