IN BANKRUPTCY

Hawke's Bay Tribune, Volume XXI, Issue 122, 9 May 1931, Page 7

IN BANKRUPTCY

NAPIER CONTRACTOR'S FAILURE. ESTIMATED DEFICIENCY OF £350 In the bankrupt estate of Ernest Cooper, bricklayer and contractor, of Napier, who filed a petition in bankruptcy to-day, tjiere is an estimated deficiency of £350 10/2. The amount owing to secured creditors is £1873 8/4, while the estimated value of securities is £lBOO, leaving a deficiency of £77 8/4. Debts owing to unsecured creditors amount to £1054 0/6. The assets are made up as follow:— Stock-in-trade £lOO, book debts £6Ol 18/8, furniture £lOO, and property £1875, making a total of £2,676 18/8. The unsecured creditors are:— Napier.—H. Bodley £l7 11/-, Tudehope and Lister 14/-, H.B. Rivers Board £1 6/-, C. B. Hansen and Co., Ltd., £2 2/1, Standard Insurance Co. 11/8, H. Corn £4 15/-, H.B. Monumental Works 7/6, Humphries and Humphries 10/6, R. Magill £7 19/6. Foreman and Cq., Ltd. £76 10/-, T. McCartney £B, J. R. Cooper (wages) £129 10/-. same, money lent and interest, £4B 2/6, W. J. Rood £412 14/0, G. Rochfort £l2, Smith and Smith £57 7/1, d. Odlin £O2 16/9, Napier Timber Co. £3 2/6, W. Fox £lO 3/6, W. G. White £l5. Taradale.—R. W. Cawston 10/-, Tarndale Town Board £5 4/9. Waipukurau.—James Butler £2 8/-, C. Cassidy £74, J. Winlove £4 3/-. Porangahau.—J. J. McGreevy £1 16/10. Awatoto. —Awatoto Shingle Co. £7 1/-. Greenmeadows.—W. Leadbetter £55. Hastings—Loach and Price £6 5/10. Dannevirke.—Havnes and Sons £25 JO/-. In a personal statement, bankrupt said that a loss of £2BO in connection ivitli the building of the Oddfellows ’ Lodge, Napier, and a loss of £270, sufferedf as a result of finances necessary for building on sections purchased being unavailable, had led tn finiineinl difficulties. Efforts were made to realise on his Vigor Brown stfieet property in regard ,to which be had entered into an assignment, by way of security, but he was unsuccessful. In an action brought against a Napier tradesman he obtained judgment for £398 and costs and in order to secure payment of this his debtor had given him a third mortgage for £473. Nothing had been paid to him in connection with this debt and, owing to the earthquake, the security had been rendered valueless. Since various creditors had been pressing him, he hud no option but to file.