Meeting of Creditors

Manawatu Times, Volume LIV, Issue 6627, 14 August 1931, Page 3

Meeting of Creditors

BANKRUPT BAKER A meeting of creditors in tho bankrupt estate of Ernest Alfred Bull, baker, of Fcilding and formerly of Dannevirke, was held in the Fcilding Courthouso yesterday morning, Mr. C. E. Deinpsy, D.0.A., presiding. Mr. J. Graham represented the bankrupt, and Messrs. J. M. Mason, J. E. Barltrop and J. G. Hill were present representing various creditors.

The bankrupt’s liabilities amounted to £202 11/2, made up of unsecured debts, the principal creditors being 11. Cooper (Palmerston North), £47 17/10; P. W. Barrington (Dannevirkc), £2l 10/11; Pieot Bros., Ltd. (Palmerston North), £l7 13/; H. Berry and Co., Ltd. (Wellington), £ll 18/1. His assets comprised stock in trade, £4O; book debts, £lO 2/4; cash at bank, 13/9; and other assets, £l2 10/, a total of £63 6/1, leaving a deficiency of £139 5/1. Bankrupt’s Statement In his sworn statement tho bankrupt set out: "Towards the end of 1926 1 sold my bakery business at Dannevirko and received £4OO. I,also sold my house for £ISOO and got £750 cash. 1 then had £llsO in cash. My wifo at this time took divorce proceedings against mo and was successful in her petition to tho Court for alimony. I was ordered by the Court to deposit the sum of £750 as security for alimony, Court costs, etc., for herself and tho two children. After squaring up my debts I had £2OO left. I then went looking for another business, but was unsuccessful in my efforts to secure one and found myself without employment for a period of six months. I managed to get employment for a period of threo months out of the following six months. In November, 1928, 1 took up the management of a bakery business at Bunnythorpe for my father at a wage of £2 a week and found. I was at Bunnythorpe for 2} years. After the first 18 months there my father gavo me £4 10/ a week and free rent only. When the moneys were deposited in Court I was ordered to pay to nV wife for her maintenance and that of the children the sum of £3 per week, the money lodged in Court being security against tho maintenance. My wife commenced proceedings against me for arrears of maintenance amounting to £43S, but as certain moneys were drawn from the Court I was ordered to pay tho sum of £ls, and did so. I then applied to the Court to have the maintenance reduced, and obtained a reduction to £2 per week. I made some of the payments, but was unable to continue. My father sold out tho Bunnythorpe business and I was faced with unemployment again. I did very little work from then on, only a month here and there. In April of this year I came to Fcilding. I had £95 in cash. I purchased a motor van for £290 and paid £75 deposit, with the idea of commencing business in Fcilding. After taking a year’s lease of a small bakery I commenced a cash business, but by reason of tho cutting in the price of bread I suffered a serious setback. 1 had only been in Fcilding a fortnight when a man collided with my van and I had to hire a car from my landlord for three weeks. My landlord and I used to adjust accounts between us in respect of my supplies to.'him and his rent, hire of van and some articles 1 purchased at tho bakery. This meant that I was getting no cash from him for my supplies to him. Ever since I sold out at Dannevirkc and since the Court proceedings between myself and my wife I have not been able to get on my feet again. The Court ordered me to hand over all my furniture, at Dannevirkc to my wife. . This was valued at £4OO. I had hopes of carrying on, but recently I was served with two summonses and a judgment summons and in fairness I thought it best to file. I have nothing whatever to offer my creditors. I am still faced with tho maintenance order in favour of my wife, wdiich has since been reduced to £1 per week.” The bankrupt was briefly examined as. to (lie stock in trade, and the meeting then adjourned sine dio without l>assing any resolution.