WOMAN BANKRUPT

Hokitika Guardian, 7 June 1930, Page 3

WOMAN BANKRUPT

TISSUE OF FALSEHOOD

DISCLOSED

AUCKLAND, June 1

‘‘.it seems to have t.feen a most irresponsible way of carrying on business,” commented the Official Assignee in Auckland to-day alter an investigation by himself and the creditors into Hie a flairs ol Vesta Doioc Haylunv, a young single woman who had tracied as a grocer and draper at lib, Great North Road.

Dissatisfaction with bankrupt’s trading methods was expressed by several creditors and the meeting was adjourned for a further investigation to be made. The financial statement showed a deficiency of £l2O. Bankrupt stated that she started business at L4b, Great North Road in December, 1020, purciiftsing the concern for £l4O. She paid £IIX3 as deposit. She had had previous experience in storekeeping, having assisted her mother in a business for 3 years. Prior to that she was in the drapery business for seven years. Owing to air accident her right hand was disabled, and she had had to employ assistant at £2 a week. She atTilmted her failure to increased competition and the result of an accident.

Replying to the’ Assignee bankrupt said that an offer of lbs in the £ had been made to the priiuipal creditors but it was refused.' She understood that the offer was not now available.

- ■ Replying to the representative of one of the principal creditors bankrupt admitted "that she had previously stated that sl:e had lent- an uncle £2bo. That was a lie.

Mr Forbes (for another firm of creditors): What about the statement that a motor-car was your own property? Was that a lie also?—Yes.

Another creditor: I think we shall find that she has told a lot of lies. ■ Answering the Assignee, Miss Haylio said she had made the misleading statements in the hope that her position would eventually improve.

The Assignee said he was at first at a loss to understand why the offer of-lbs, in the •£ had been refused ; but u was more understandable in view of what - had been revealed in cross-ex-amination.

_ One of the creditors said there was no reason at' the time to doubt t truth of the statements made. It had been simply a tissue ol lies. If she had. been frank with her creditors the position might have been different.

Another creditor moved that, in view of the msat isfaetory position disclosed further investigation should .be made into bankrupt’s transactions. ’lbis was seconded and carred . without, . opposi* lion. The disposal of the : stock - and fittings was left- in the Assignee’shands -- - .• .