SURPLUS OF ASSETS.
NOHTHKHN BANKRUPTCY CASI
(Per Press Association.) lIAAIII/roN. .M:ii<li 17. At si mooting of creditors in I lie bankrupt estate ol J nines Smith., luriii,.i, 0 f Xjrarolo, the Deputy-Official Assignee stated that the ease was (|iiiU> unique, in that Lite debts to unsecured creditors amounted to L'l3l (iiicl the amount Imnkriipt was to receive from the dairy company this month was fifiO. Questioned, bankrupt stated thai he had filed entirely against the advice ol his solicitor and hanker, lie had interviewed the ValucrOeneral, who, alter going into figures submitted and obtaining information oi I lie lyesent valuation ol the farm, advised him to lile and bring matters to a head. The Deputy-Official Assignee said that certainly the farm was the subject of heavy' mortgages, hut the mortgages were quite adverse to Smith's filing. The creditors strongly condemned the action alleged to have been taken bv the Valuer-General, and passed a resolution expressing strong disapproval of his action, seeing there was available over .Vis in the f to pay unsecured creditors. They were also satisfied thai this year's results from the lai in would show a surplus of C3ooalter payment ol interest.
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Bibliographic details
Manawatu Standard, Volume XLIII, Issue 351, 20 March 1922, Page 2
Word Count
194SURPLUS OF ASSETS. Manawatu Standard, Volume XLIII, Issue 351, 20 March 1922, Page 2
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