IN BANKRUPTCY.

Hawera Star, Volume XLV, 27 April 1925, Page 2

IN BANKRUPTCY.

IvAPOXGA WOMAN'S FAILURE

ESTATE QF AIRS. JONES

A meeting of creditors in the bankrupt estate of Margaret Frances Jones, recently a boarding house keeper of Kaponga, was held in the office of the Deputy-Official Assignee (Mr. If. S. Sage) on .Friday afternoon. There was one creditor, Mr. R. E. "Williams, present, and Mr. B. Fearon represented bankrupt’s landlord, Air. G. Gibson. ' Unsecured creditors claim’s were as follow: It. E. Williams, butcher, Kaponga. £37 7s; E. Penfold, grocer, Okaiawa, £27 2s Id; J. J. Davidson, grocer, Kaponga, £2 16s Id; Hughsons’ Ltd., grocers, Opunake, £l4; Smalley and Co., grocers, Eltham, £23; G. Gibson, farmer, Okaiawa, £l3l. Bankrupt’s financial statement showed unsecured creditors amounting to £235 5s Id, book debts estimated to. produce £0 16s, and furniture valued at £l5O. On paper the estate therefore showed a defiiciency of £75 9e Id. Bankrupt’s written statement was as follows: “I took over the boarding house known as the Grand Central at Kaponga in May 1921, at £2 10s per tfeek. From the beginning it was a struggle to make the place pay. and in August, 1923, when I was considerably behind with the rent the landlord reduced the amount to £2 per week. Even with this reduction, however, I have not been able to make the place pay, and had given the contents into the auctioneer’s hands for sale when I was offered a certain sum to take over the place as a going concern and I consequently cancelled the sale. On pre--pnring to sign the papers I was faced with the fact that the landlord demanded the payment of the whole claim for the arrears of rent, and in order to protect the rest of my creditors I was advised to file. I cannot make, any. offer to my creditors as I am now without a home, and have no means of paying my debts.” In reply to Messrs. Williams and Fearon the bankrupt said that she had not sold any furniture, and a piano, which had been taken- away, had never belonged to her. In reply to a further question bankrupt said she had no house.

The question of the disposal of the hoarding-house business and furniture, was discussed, the D.O.A. pointing out that Mrs. Jones was entitled, under the Act, to £25 worth of the furniture. It was finally left with the D.O.A. to dispose of the hoarding-house business as a going concern to either the present occupier or anv other person. The meeting then adjourned.