BANKRUPT CONTRACTOR

Gisborne Times, Volume LXXI, Issue 11324, 30 September 1930, Page 7

BANKRUPT CONTRACTOR

PUBLIC WORKS DEPARTMENT TO FINISH JOB.

(Press Association.) - , - - AUCKLAND, Sept. 29. One of the largest -gatherings' of creditors ever known in Auckland assembled at a meeting held in the office of the Official Assignee, to inquire into the affairs of John Robert Simpson, contractor, of Auckland, who' undertook the building..of the Supreme Courthouse at Hamilton at a price of £25,000. The debtor’s financial schedule showed liabilities In, rank for a . dividend totalling £9500. The assets amounted to a grand total of £16,698 8s lOd, hook.debts being £6086, estimated to produce £6048. -An estimated surplus on the property was returned at £9779. The claims .-of unsecured, creditors totalled £8621 and those of secured creditors,. £16,321. The estimated value of the securities was £25,100. _ Liabilities other than those mentioned . were £895, and total debts were £9517 7s lOd.

Among the assets was "an item of "livestock.” Replying to the assignee, bankrupt said this represented a mare and two foals at a racing stable. A debt 0f.£150 was owing by the owner of the stable for. huild T ing work A balance of £3BOO, it was stated, was due for the completion of the courthouse contract, and £IOOO ror a hospital contract-.' Deposits •or £315 and £l5O respectively were paid by the Public Works.- Department as deposits on the acceptance of -the contracts During the meeting a telegram was received from the Public Works Department suggesting that it should complete the contract at an estimated price of £I2OO- This was agreed to, and a committee was appointed to act with tlie Official Assignee in winding up the estate.