IN BANKRUPTCY

Hawke's Bay Tribune, Volume XIX, Issue 67, 6 March 1929, Page 5

IN BANKRUPTCY

ESTATE OF S. O. HUGHES. A meeting of creditors in the estate of Sydney Oliver Hughes, watersider, called to take place at the Courthouse. Napier, this morning, lapsed for the want of a quorum. The financial statement shows a surplus of £B4 8/10. _ while to unsecured creditors is owing £lB5 11/2. Bankrupt was represented by Mr. W E. Barnard, M.P. Bankrupt, in a statement, made reference to a property deal and, as the result of a succession of bad tenants, he had fallen behind with, his payments, resulting in the original owner resuming possession of the property, while judgment was obtained against him for £B5 14/7. While things were good he built a new house of five rooms in Battery road, borrowing £550 for that purpose. A threat’that a warrant would be issued against him to sell the property had led him to file his petition. His wife was ailing and he had three children dependent on him. In answer to the Assignee, bankrupt stated that his wife had a car which she bought for £l5, and which she maintained from the profits of three cows.

Bankrupt explained that all his debts were incurred a long time back, and that for the last two years he had been paying his way.