A "FAIR TRIER"
MEETING OF CREDITORS
The opinion that the bankrupt had been a fair trier, but had been overoptimistic ana had paid too high rents was expressed at a meeting of creditors of Leonard Taylor Cresswell, before the Official Assignee, Mr. S. Tansley, to-day. ~.-.■;.'•.
In his sworn statement the bankrupt stated that he started business as a food specialist in Manners street in October, 1927, with a capital of £599, of which £250 :was borrowed without security. Except for the second period of six months the business was carried on at a. loss. In June last he became ill and-had a. serious operation, with the result that the business, without his. personal attention, fell away, still further, the position being made worse by the phenomenally bad times.
The amount owing to secured creditors was £2635 3s (3d, and^to unsecured creditors £631 19s 6d, in addition to £220 8s fbr rent. The estate showed an. estimated surplus of £670 16s 6d. It was decided to abandon the house properties to the mortgagees and to leave the bankrupt his furniture. Cresswell thanked his creditors for the consideration they had shown him, and the meeting was adjourned sine, die. .•■.'■
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https://paperspast.natlib.govt.nz/newspapers/EP19320510.2.90
Bibliographic details
Evening Post, Volume CXIII, Issue 109, 10 May 1932, Page 9
Word Count
197A "FAIR TRIER" Evening Post, Volume CXIII, Issue 109, 10 May 1932, Page 9
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