IN BANKRUPTCY

Manawatu Standard, Volume LX, Issue 71, 21 February 1940, Page 4

IN BANKRUPTCY

FEILDING PETITION. A meeting of creditors in the bankrupt estate of Lawrence Alexander Fredcrickson, labourer, of Feilding, called by the Deputy-Official Assignee (Mr F. C. Litchfield), yesterday afternoon, in Palmerston North, lapsed for want of a quorum. Bankrupt, in liis sworn statement, said he was a married man, aged 33, with a wife and one child to support. Prior to going to Feilding he lived in Danuevirke from 1934 to March, 1939. Prior to 1034 he had worked as a farm labourer in and around Norsewood. In 1934 he married and wont to Danuevirke, where he had no regular employment, being unable to keep a job because of his health. In May, 1934, lie registered as unemployed, and from that time was periodically on the dole. He had no assets, and was living in a rented house. He found his income insufficient on which to live and started to get behind with his stpre accounts. In 1935 ho purchased from Huggins Motors on rime payment for £2O a truck, old and second-hand, on which .repairs were heavy. Ho used it to collect firewood, but the business did not pay and he/sold the truck and paid the proceeds to the owners. He was continually ill, and got further behind with his accounts. In March, 1939, the house in which lit was living was destroyed by fire, lit received £199 los insurance, and thi> was expended by paying approximately £BO off old debts, £8 Ss solicitor’s charges, £IOO deposit on a Feilding property and £l2 9s lOd to FullcrtonSmith and Co., Folding, being adjustments and costs in respect of the Feilding property. “I purchased the Feilding property in March, 1939, from Mrs J. Belotri for £6OO and paid down the £IOO lhentioned above,” proceeded the statement. “I agreed to pay T the balance in five years with interest at 5 per cent. There were no arrears of interest. At the same time I agreed to purchase the furniture from Mrs Belotti for £77 8s 6d. This amount was to be repaid at the rate of 10s a week, and there is now owing approximately £57. .There is no equity in the furniture. From March, 1939, to November, 1939, 1 was on the sick list practically the whole of the time. My trouble is acute sciatica. On November 27, 1939, I started work at the Feilding freezing works and have earned to date £6O. I am again on the sick list and will not be able to work for at least a month. While in Feilding I have endeavoured to meet my current commitments and reduce my Dannevirke debts, but my income is barely sufficient on which to live. I have been before the Court at Feilding on several judgment summonses, hilt after examination no orders have been filed against me. An order was made against me in Waipukurnu. Mv private earnings since 1937 are: 1937, £ll 2s; 1938, £42 os; 1939 (November), £7 14s 5d ; 1939-40 (February), £6O; total, £l2l Is sd. My only other income was from social security benefits. My wife lias no assets and no income, except an old, secondhand truck which she purchased for £2l and on which there is now owing the sum of £lB under hire purchase agreement to K. M. Mills, Dannevirke. In view of my position I have been reluctantly compelled to file, and cannot in mv present circumstances make any offer to creditors.” The financial statement listed secured creditors at £557, and amounts owing to unsecured creditors £227 12s. Cash in hand totalled £77 8s 6d and property £6OO, the deficiency being £lO7 3s 6d.